Question
Suresh earned an interest of Rs. 774 on principal amount
of Rs. 2400 at some rate of compound interest in 2 years. How much more/less interest would he have earned on Rs. 2700 at the same rate of simple interest for the same duration?Solution
Let, rate of interest be ‘r’% per annum So, 774 = 2400 × {(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 = 2700 × 0.15 × 2 = Rs. 810 Required amount = 810 – 774 = Rs. 36
More Simple and compound interest Questions
What will come in the place of question mark (?) in the given expression?
(12.09)2 × 5.98 ÷ 26.95 = ? + 25
√441 * 7 – 10% of 250 + ? = 140% of 120
30% of 8/5 × 5/7 × 2870 =?
1231 + 1312 + 2113 – 3211 = ?
{(3/8) + (5/6)} × 120 – 53 = ?
What will come in the place of question mark (?) in the given expression?
23 X 35 - ? = (132 + 16) X 3 + 25
56 × 18 + ? × 21 – 49 × 12 = 63 × 26
- Evaluate: 168 ÷ 12 × 5 + 190 – 20% of 450
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