Question
A man deposited 40% of his salary to a bank which offers
compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 years is Rs. 2520, find the monthly expenditure of the man which is 52% of his monthly salary.Solution
Let the amount of money deposited in the bank be Rs. ‘x’. So, x × [(1.1)2 – 1] = 2520 0.21x = 2520, x = 12000 So, monthly income of man = 12000/0.4 = Rs. 30000 Required monthly expenditure of man = 52% of 30000 = Rs. 15600
At the 71st National Film Awards, who shared the Best Male Actor award?
India’s first Integrated Ocean Thermal Energy Conversion (OTEC) plant is being developed in which location?
When is “World Day Against Child Labour” is being celebrated across the globe?
Who is the chairman of reconstitute SEBI's alternative investment policy advisory committee, which advises the capital markets regulator on various matt...
Which facility is NOT included in the advanced testing facilities provided by the UDAAN programme for drone startups?
In which year was the Shipping Corporation of India (SCI) founded?
What is the tariff China agreed to apply on U.S. goods under the 90-day reduction agreement?
Who among the following won GOLD MEDAL in 2008 Beijing Olympics?
Which Rural Bank launched a new deposit scheme “Vikas Siri Sampat-1111”?
What percentage of GST relief is provided to exporters on the goods they export?
Relevant for Exams:
