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
- A man invested a certain amount of sum at 12.5% per annum simple interest and earned an interest of Rs.2700 after 3 years. If the same amount is invested a...
- The ratio of the compound interest earned on an amount of Rs. 'p' at an interest rate of 15% per annum for 2 years to the simple interest earned on Rs. (p ...
- A sum becomes 2.89 times ot itselt in 2 years when invested at compound interest (compounded annually). What is the annual rate of interest?
- A certain sum of money invested at a rate of 36% p.a. amounts to Rs. 30417.5 at the end of 15 months if the rate of interest is compounded 5 monthly. Find ...
- A man invested Rs. 30,000 at simple interest of 8% p.a. If he had instead invested the same sum on compound interest of 8% p.a., compounded annually, then ...
- A man deposited Rs. ‘x + 1400’ at 12% per annum simple interest and earned Rs. 828 as interest after 2 years. Find the interest earned by him if he deposit...
- Mohan invests ₹8,000 each in two different schemes, 'A' and 'B', for a duration of 2 years. Scheme 'A' provides compound interest at an annual rate of 16% ...
- An amount of Rs. 'x' is invested at a simple interest rate of 15% per annum and grows to Rs. 14,500 after 3 years. If the same amount Rs. 'x' is instead in...
- A man invested a certain amount of sum at 12.5% per annum simple interest and earned an interest of Rs.2400 after 3 years. If the same amount is invested a...
- A sum of money grows to Rs. 5,400 in 6 years and Rs. 6,000 in 8 years under simple interest. What is the original principal amount?
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