Question
Sunil invested Rs. ‘4x’ in scheme ‘A’ offering
simple interest of 20% p.a. and reinvested the interest earned from scheme ‘A’ at the end of 4 years in scheme ‘B’ offering compound interest of 20% p.a. compounded annually. If total amount received from scheme ‘B’ after 2 years is Rs. 1440, then find the value of ‘16x’.Solution
According to question; 1.44 × {0.20 × 4 × 4x} = 1440 Or, {0.25 × 4 × 5x} = 1000 Or, x = 312.5 So, 16x = 16 × 312.5 = 5000
More Simple and compound interest Questions
Of 10 computer chips, 4 are defective. What is the probability of selecting 3 without replacement, only one of which is defective?
If the correlation between x and y is 0.6 covariance is 27, variance of y is 25, then what is the variance of x?
The credit manager at a Departmental store collects data on 100 of her customers. Of the 60 men, 40 have credit cards (C). Of the 40 women, 30...
The level of current inflation is 12% and inflation for the previous year was 6%. The strength of the effect of unemployment on the wages is 1.5. Calcul...
Which of the following statements is true
