Question
An initial principal sum of Rs. 8000, invested by
Pranav, accrued interest at a compound rate of 20% annually for a period of 2 years. Subsequently, the entire sum, compounded with the interest, was redeployed into an account offering simple interest at an annual rate of 15% for an additional 2 years. Calculate the cumulative interest earnings that Pranav accrued over the comprehensive 4-year period.Solution
ATQ, Amount received after initial 2 years = 8000 × (1.2)2 = Rs. 11520 Amount received after 4 years = 11520 + (11520 × 0.15 × 2) = Rs. 14976 Required interest earned = 14976 – 8000 = Rs. 6976
Who has become the 13th player from India to play 100 Test matches in International Cricket?
What is the theme of National Dengue Day 2025?
What is the height of the badminton net?
In which state the 37th edition of National Games of India will be organized?
Which Tribunal has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision?
Recently Ministry of Fisheries, Animal Husbandry and Dairying inaugurated 29 Mobile Veterinary Units and centralized call center in for the benefit of t...
Consider the following statements about Tax Inspectors Without Borders (TIWB) programme:
1. Recently, India has been chosen as the Pa...
What does the CBRE report reveal about the demand for industrial and logistics spaces in India in 2023?
The acid used in lead storage cells is-
When was the Pradhan Mantri Jan Dhan Yojana (PMJDY) launched?