Question
The difference between compound interest and simple
interest at rate of 22% per annum for 2 years is Rs. 484. Find the simple interest obtained on same amount for a period of 2 years at rate of 10% per annum.Solution
Let, the amount be Rs. P. P[(1 + 22/100)2 – 1] – P × 22% × 2 = 484 P × 0.4884 – P × 0.44 = 484 P × 0.0484 = 484 P = 484 ÷ 0.0484 = Rs. 10000 Therefore, required interest = 10000 × 10% × 2 = Rs. 2000
More Simple and compound interest Questions
Which company has secured the media rights partnership with the International Hockey Federation (FIH) for the period from 2023 to 2027?Â
- What is the atomic number of the element Bromine?
Which Article of the Constitution establishes a High Court for each state?
- Who was awarded the prestigious 2025 Pritzker Architecture Prize?
- Which longitude is designated as the International Date Line?
Who will be presented with the 2024 Sangeet Kalanidhi Award by the Madras Music Academy?
- Where did the 1984 Union Carbide gas leak disaster occur?
Which Indian financial regulator oversees the capital and commodities markets?
Who has topped the UNDP Gender Equality Index recently?
Where was India’s first diabetes biobank established?
Relevant for Exams:
