Question
Mark invested Rs 15,000 in a scheme at simple interest
20% per annum. After three years he withdrew the principal amount plus invested the entire amount in another scheme for two years, which earned him compound interest 12% per annum. What would be the interest earned by Mark at the end of five years?Solution
S.I = (15000 × 20 × 3)/100 = Rs 9,000 Amount = 15,000 + 9,000 = Rs 24,000 A = P (1 + r/100)n A = 24,000 (1 + 12/100)2 A = 24,000 (28/25)2 A = Rs 30,105.6 C.I = A – P = 30,105.6 – 24,000 = Rs 6,105.6 After five years, Total interest = Rs (9,000 + 6,105.6) = Rs 15,105.6
More Simple and compound interest Questions
1519.98 ÷ 50.48 × 15.12 = ? × 4.16
Solve the following expression and calculate the approximate value.
14.96% of 120.03 - 107.99 + 88.93% of 199.87 = ?
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
Find the approximate value of Question mark(?). There is no requirement to find the exact value.
? = 599.77 – 14.08 × 20.11 + (12.93)²
(124.99)² = ?
(29.97%) of 9840 + ? + (45.17% of 1240) = (31.99% of 11750)
10.10% of 999.99 + 14.14 × 21.21 - 250.25 = ?
(29.98% of 9840) + ? + (19.899% of 8490) = 7560
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