Question
The difference between the compound interest, compounded
annually and simple interest on Rs. ‘P’ at the rate of 15% p.a. for 2 years, is Rs. 90. If Rs. (P + 2000) 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, 90 = P(15/100)2 Or, 90 = P(225/10000) Or, 0.0225P = 90 Or, P = 4000 Sum that is invested on compound interest = 4000 + 2000 = Rs. 6000 Compound interest = 6000 [1 + (15/100)3 ] – 6000 = 6000 × (23/20) × (23/20) × (23/20) – 6000 = 9125.25 – 6000 = Rs. 3125.25
Forecasting Agriculture output using space, agrometeorological and land-based observation (FASAL), which organisation will generate multiple forecasts o...
What is the primary benefit of the e-NAM platform for farmers?
Which disease(s) induce floral abnormalities?
Which of the following Development Round of WTO was held in 2001?
The Election Commission of India has celebrated _______ National Voters’ Day on 25th January 2024.
What does the India-Middle East-Europe Economic Corridor (IMEC) consist of?
Under the PM Awas Yojana Urban 2.0, what is the primary mechanism through which the government plans to facilitate affordable housing loans?
World Bank has approved what amount for India’s Road safety Programme?
Which challenge in the agricultural sector does the UPAg Portal address by vetting and updating data from sources like Agmarknet?
PM- Ucchatar shiksha Abhiyan focuses on which of the following points?
Relevant for Exams:
