ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    Aman invested two equal amounts in two different

    projects. In the first project, the amount is invested at 5% p.a. on SI for T years and the SI received is тВ╣2000, while in the second project, the amount is invested at 10% p.a. For 2 years at CI and the compound interest received is тВ╣1050, than what will be the value of T?
    A 2 yrs Correct Answer Incorrect Answer
    B 4 yrs Correct Answer Incorrect Answer
    C 8 yrs Correct Answer Incorrect Answer
    D 5 yrs Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Let the CI for 2 years at 10% p.a will be =┬а 10 + 10 + ((10 x 10) /100) = 21% Then, the 21% value is given as = 1050 Therefore, 100% value will be = (1050/21) x 100 = 5000 Now the value for T will be =┬а (S.I x 100)/(P x R) = (2000 x 100)/(5000 x 5) ┬а8 years Hence, the value for T is = 8 years

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question