Question
The difference between the compound interest, compounded
annually and simple interest on Rs. ‘P’ at the rate of 20% p.a. for 2 years, is Rs. 100. If Rs. (P + 1500) is invested at the same rate p.a., then find the compound interest, compounded annually earned after 3 years.Solution
Using formula Difference = Sum(R/100)2 Or, 100 = P(20/100)2 Or, 100 = P(400/10000) Or, 0.0400P = 100 Or, P = 2500 Sum that is invested on compound interest = 2500 + 1500 = Rs. 4000 Compound interest = 4000(1 + 20/100)3 – 4000 = 4000 × (6/5) × (6/5) × (6/5) – 4000 = 6912 – 4000 = Rs. 2912
A borrowed Rs. 9500 from B for his business. How much amount A will return to B at the end of 24 months such that the sum was borrowed at simple interes...
The simple interest on a sum of Rs X in 5 years is 4/5 of the principal. What is the annual rate of interest?
Simple interest on a sum of money for 2 years is 1/5th of the sum, then the interest received in 5 years on same principal will be what time of the prin...
Ravi lends Rs. 6000 to two of his friends. He gives Rs.3000 to the first at 15% p.a. simple interest. Ravi wants to make a profit of 20% on the whole. T...
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. 3500 and Rs...
A man invested certain sum at 8.5% p.a. simple interest for his son who was 20 years old. If the amount received by the son when he was 26 years old is ...
A sum of Rs. 3200 is invested at simple interest for 2 years. If the rate interest for first year is 12% p.a. while 20% p.a. for second year, then find ...
A principal of Rs. 'x' is invested at an annual compound interest rate of 30%, compounded yearly, and grows to Rs. 2535 after 2 years. Calculate the sim...
A sum doubles in seven years at simple interest. In how many years will the sum become five times the original sum?
- Ramesh invested Rs. 8,000 in scheme ‘X’ offering simple interest of 15% p.a. After 3 years, he reinvested the total interest earned from scheme ‘X’...
Relevant for Exams:
