Question
The interest earned when a sum is invested at simple
interest of 16% p.a., for 3 years, is Rs. 2400. What will be the total amount received after 2 years on investing the same sum at compound interest (compounded annually) of 10% interest p.a.?Solution
Let the sum invested = Rs. Y According to the question, (Y × 3 × 16) ÷ 100 = 2400 So, Y = (2400/0.48) = 5000 So, required amount received = 5000(1 + 10/100)2 = 5000(11/10)2 = Rs. 6050
Consider the following in regards to SATHEE Portal:
1) The objective of the portal is to provide quality education to every student who intends t...
What is the primary role of SEBI in the new operational framework?
Which payments bank has entered into a tie-up with Sequoia Capital-backed fintech Hubble to introduce India’s first spending account?
Which state’s ‘Gond Painting’ got Gi tag ?
Which of the following village is declared India’s first 24*7 solar powered village?
Which indian payment gateway has partnered with NPCI to launch ‘AutoPay on QR’ that enables customer onboarding through a two-step workflow of s...
The Food and Agriculture Organisation (FAO) of the United Nations has signed an agreement with the _________ Government to train the farmers in good fa...
Which organization leads the 'Race to Resilience' initiative that India joined during COP28?
Which Indian boxing champion was honored with the Global Indian Icon of the Year award at the U.K.-India Awards?
The Asian Development Bank (ADB) approved a USD 200 million loan for the expansion of metro rail corridors in which Indian city in July 2024?