Question
Suresh earned an interest of Rs. 1677 on principal amount of Rs. 5200 at some rate of compound interest in 2 years. How much more/less interest would he have earned on Rs. 5700 at the same rate of simple interest for the same duration?
Solution
Let, rate of interest be ‘r’% per annum So, 1677 = 5200 × {(1 + r/100)2 – 1} 129/400 = {(1 + r/100)2 – 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 = 5700 × 0.15 × 2 = Rs. 1710 Required amount = 1710 – 1677 = Rs. 33
More Simple and compound interest Questions
- Rs.9000 is divided into two parts such that if one part be invested at 5% and the other at 7%, the annual interest from both the investments is Rs. 580. Fi...
- Rs 2000 are invested at 5% p.a simple interest. If the interest is added to the principal after every 10 years, the amount will become Rs 4000 after
- Mr. P invested Rs. ‘4x’ in scheme ‘A’ offering simple interest of 25% p.a. and reinvested the interest earned from scheme ‘A’ at the end of 4 years in sche...
- Ankit and Bhupesh invested a certain amount for 5 months and 7 months respectively. The ratio of the profits earned by Ankit to those earned by Bhupesh is ...
- A sum of money, invested for 8 years on 5% per annum simple interest, amounted to ₹287 on maturity. What was the sun invested in?
- 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 th...
- Arman Funded an amount at the rate of 6 % for a period of 2 years at C.I. while calculating, the rate of interest was interchanged with the time period and...
- A sum of Rs 12,000 is invested at 7% simple interest per annum. In how many years will the interest amount be Rs 5,040?
- An amount becomes six times of itself in 50 years at simple interest. Find the value of (2R + 30).
- The simple interest earned on a certain sum at 12% per annum for 6 years is equal to 2/5 of the compound interest earned on ₹10,000 at 15% per annum, compo...
Relevant for Exams:
