Question
A man invested certain sum at 8% p.a. simple interest for his son who was 16 years old. If the amount received by the son when he was 25 years old is Rs. 4704, then find the sum invested by the man.
Solution
Let the sum invested by the man be Rs. x Time for which the sum is invested = 25 – 16 = 9 years According to the question, {(x × 8 × 9)/100} + x = 4705 Or, 1.96x = 4704 Or, x = 2400 Therefore, the sum invested by the man = Rs. 2400
More Simple and compound interest Questions
- Anita and Rohan each invested a sum of ₹12,000 for 2.5 years at 20% compound interest per annum. However, while for Anita the interest was compounded annua...
- Rs. 4,600 is invested in three parts all at simple interest of 10% p.a. These three parts are invested randomly for 1 year, 3 years and 5 years such that t...
- John borrowed some money from Alex at 10% simple interest per annum. He lended this money to Shaun at 20% compound interest per annum, and made a profit of...
- Sneha deposited Rs. ‘R’ in a bank offering compound interest of 13% p.a. compounded annually. After 3 years, she invested the amount received from the bank...
- A certain sum of money becomes 6000 in 6 years and Rs. 6240 in 10 years at any certain rate of simple interest. Find the principal amount.
- Atul invested in scheme A and B that provide simple interest at the rate of 12% and 15% for 3 years and 5 years, respectively. Interest received from schem...
- An amount of Rs. 2400 is placed in SIP 'P' at a 25% per annum simple interest rate for 8 years, and Rs. 2500 is invested in SIP 'Q' with a 20% annual compo...
- If Rs. 25,000 is loaned at a compound interest rate of 50% per annum, and the interest is compounded once every year, what will the amount be after 2 years...
- Mr. Ajay invested in two schemes A and B contributing compound interest @ 5% pa and 7% pa respectively. If the entire amount of interest in two years was ₹...
- Find the simple interest and the amount on Rs 5,000 at 8% per annum for 3 years.
