Question
Simple interest and compound interest (compounded
annually) earned on a sum at the end of 2 years at a certain rate of interest p.a. are Rs. 1100 and Rs. 1144 respectively. Find the rate of interest.Solution
Simple interest for 1 year = 1100/2 = Rs. 550 Difference between compound Interest and Simple Interest for 2 years = 1144 – 1100 = Rs. 44 Desired rate = 44/550 × 100 = 8%
More Simple and compound interest Questions
- 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.)
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.)...
(?)2 + 4.113 = 25.92 – 32.03
- 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.)
41.78% of 1499 + (9/13) × 389.84 = ?% of 1599.67 + 180.45
570.11 ÷ 18.98 × 5.14 – 123.9 = √?Â
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exactvalue.)
(804/65) ÷ (11/798) × (129/131) = ?
? * 5.92 = (450.08 ÷ 9.99) % of 5180 - 921.12
15.232 + 39.98% of 539.99 = ? × 6.99
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