Question
Find the rate of simple interest at which Rs. 6000
should be invested for 2 years so that the interest earned will be same as the interest received when the same amount is invested at 40% at compound interest compounded annually for same time period.Solution
Compound interest earned in 2 years = 6000 × [(1.40)^2 – 1] = 0.96 × 6000 = Rs. 5760 Let the rate of simple interest is R% According to question, (6000 × R × 2)/100 = 5760 120 × R = 5760 R = 48%
More Simple and compound interest Questions
If x - √(3y) =19 Then find the slope in angle?
tan 1˚ × tan 2˚× …………………….tan 88˚ × tan 89˚ = ?
If 2ycosθ = x sinθ and 2xsecθ – ycosecθ = 3, then x 2 + 4y 2 = ?
If cos 2x = 1/2, then the value of x:
A man is standing at a point 40 meters away from a tower. The angle of elevation of the top of the tower from the point is 45°. After walking 20 meters...
If X = 15°, find the value of:
sin²(4X) + cos²(3X) - tan²(2X)if a sin 45 ˚ = b cosec 60 ˚ then find the value of a⁴/b⁴
...
