Question
David takes a loan of Rs. 20000 from his friend Alex, which he is to return at 10% p.a. simple interest after 5 years. Alex takes a loan from George, which he returns after 2 years at 10% p.a. compound interest. If Alex returns Rs. 24200 to George, then what is the difference between the amount borrowed by Alex from George and the amount returned by David to Alex?
More Simple and compound interest Questions
- If Rs. 10,000 is invested at a simple interest rate of 8% per annum, it accrues Rs. 1,200 as interest over a period of 't' years. Given the same duration '...
- A certain sum of money invested at a rate of 24% p.a. amounts to Rs. 19965 at the end of 15 months if the rate of interest is compounded 5 monthly. Find th...
- John borrowed some money from Alex at 10% simple interest per annum. He lended this money to Shaun at 20% compound interest per annum, and made a profit of...
- A certain amount of money at simple interest amounts to ₹1,404 in 2 years and to ₹1,560 in 5 years. What is the rate of simple interest per annum ?
- A man deposited Rs. ‘x + 800’ at 12% per annum simple interest and earned Rs. 540 as interest after 2 years. Find the interest earned by him if he deposite...
- An individual 'P' received Rs. 6,750 as interest by investing Rs. 15,000 at a simple interest rate of 18% per annum for 'x' months. If the same amount was ...
- A certain amount will become six times in 20 years. How long does it take for the same amount to become 5 times? Assume the same rate of simple interest in...
- If a sum of money invested on simple interest becomes 4 times of itself at 'R%' p.a. in 6 years, then find the value of '0.4R'.
- The simple interest received on a sum at the rate of 4 percent per annum is 3/5 of the sum. What is the time period?
- A principal amount of ₹5p grows to ₹(5p + 660) in 2 years at an annual interest rate of 20% compounded yearly. Determine the compound interest earned when ...
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
