Question
A person 'P' invested Rs. 7,400 in a SIP at an annual simple interest rate of 14%. If the total interest earned by him amounts to Rs. 6,216, determine the number of years for which the investment was made.
Solution
ATQ,
Let the duration for which the money was invested be ‘y’ years. Or, 6216 = {(7400 × 14 × y)/100} So, y = (6216/1036) = 6 Therefore, the money was invested for 6 years.
More ESIC Part B Questions
- The subject “Regulation of labour and safety in mines and oil fields” comes under which list?
- Under the Trade Union Act, of 1926, a registered trade union can file and defend legal cases on behalf of its members and undertake peaceful _______ and de...
- Which of the following statement is/are incorrect about “Sukanya Samriddhi Yojana”? I. Sukanya Samriddhi Account can be opened in the name of a gi...
- UPTQ is related to ONJK in a certain way based on the English alphabetical order. In the same way, RMQN is related to LGKH. To which of the following optio...
- Who has secured the first position in the World of Statistics ranking of the most criminal countries recently?
- Which one of the following is the arithmetic mean of √3 - √2 and its reciprocal?
- Which one of the following accounting concepts is applied by an entity, when events such as new competitor entering in the market and rift between producti...
- The rate of simple interest for which ₹12,000 will amount to ₹14,400 in 5 years is:
- Which dynasty was the contemporary to Gupta Empire in the Indus valley defeated by Hunas in the 5th century?
- What was the achievement of Dobereiner’s triads?
Relevant for Exams:
