Question
'P' invested a certain amount at 21% per annum simple interest for 2 years. If he had instead invested the same amount at 20% per annum compound interest, compounded annually for 2 years, the interest earned would have been Rs. 150 more. What was the sum invested by 'P'?
Solution
ATQ, Let the sum invested by 'P' be Rs. 'p'. ATQ; {(p × 21 × 2)/100} + 150 = p × (1.2)2 - p (42p + 15000) = 0.44p X 100 Or, 2p = 15000 So, p = 7,500 So, sum invested by 'P' = Rs.7,500
More Quant Miscellaneous Questions
- 72, 81, 99, ?, 162, 207
- A person is standing 30 meters away from the base of a building. If the angle of elevation from the person's eye level to the top of the building is 60 deg...
- Quantity I: Ravi invested Rs. 35,200 in a plan offering compound interest at an annual rate of 12.5%. Calculate the compound interest earned by Ravi after ...
- Which of the following can create the largest printouts:
- Question 5
- 9 years ago from now, ratio of ages of ‘R’ and ‘L’ was 2:5, respectively. If ‘L’ is 5 years elder to ‘R’, then what will be the age of ‘L’, 5 years hence f...
- A circle with radius 8 cm is inscribed in a square. What is the area of the square?
- The following table shows the distribution of marks (out of 100) obtained by 60 students: The mean marks (using mid-points),
- Anuj invested a certain amount for 18 months at a simple interest rate of 5% per annum and received a total of Rs. 3,440. What would be the total interest ...
- 120 litres of mixture contains water and milk in the ratio 5:6 respectively. If 32 litres of the mixture is replaced by same quantity of water, then find t...
Relevant for Exams:
