ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!
  • google app store apple app store
    • тЬЦ

      Question

      Suresh earned an interest of Rs. 1419 on principal

      amount of Rs. 4400 at some rate of compound interest in 2 years. How much more/less interest would he have earned on Rs. 5000 at the same rate of simple interest for the same duration?
      A Rs. 72 Correct Answer Incorrect Answer
      B Rs. 45 Correct Answer Incorrect Answer
      C Rs. 57 Correct Answer Incorrect Answer
      D Rs. 54 Correct Answer Incorrect Answer
      E Rs. 81 Correct Answer Incorrect Answer

      Solution

      Let, rate of interest be тАШrтАЩ% per annum So, 1419 = 4400 ├Ч {(1 + r/100)2 тАУ 1} => 129/400 = {(1 + r/100)2 тАУ 1} => 529/400 = (1 + r/100)2 => (23/20)2 = (1 + r/100)2 => (23/20) = (1 + r/100) => (3/20) = r/100 => r = 15 So, simple interest earned = 5000 ├Ч 0.15 ├Ч 2 = Rs. 1500 Required amount = 1500 тАУ 1419 = Rs. 81

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question