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
(3374 ÷ 125.13)1/3 + (362 ÷ 11) = ?2 – 27.79
- 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.)
102.89 of 3.08 = 59.98% of 499.94 + √?
11.992 + (6.01 × 5.98) + ? = 350.03
7.898 × ? + 139.89` ` `-:` 14.23 = 4004.04 – 353.89
` `
156.76 + 14.08² + ?³ = √625.12 * 26.87
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.)...
- 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.)
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