Question
'M' placed a specific amount of money into the 'SBI'
Mutual Fund, which provides a 15% per annum simple interest rate. Simultaneously, 'M' invested the same amount in the 'HDFC' Mutual Fund, which offers a 15% per annum compound interest rate, compounded annually. After a period of 2 years, the difference between the interest earned from 'SBI' Mutual Fund and 'HDFC' Mutual Fund was Rs. 675. Determine the total amount 'M' received from the 'HDFC' Mutual Fund at the end of 2 years.Solution
ATQ, Let, the principal amount invested by 'M' be Rs.'m' we know that the difference between CI and SI, after 2 yrs when Rs.'m' is invested at a rate of 'r'% p.a. = [m × (r/100)2] therefore, [m × (15/100)2] = 675 So, P = 30,000 Amount received from MutualFund 'HDFC' = {30,000 × (1+(15/100))2} = 30,000 × (23/20)2 = Rs.39,675
Who has been appointed as the new Chairperson of the International Financial Services Centres Authority (IFSCA) in July 2023 by the Indian government?
Which article of the Constitution of India states that 'all authorities, civil and judicial, in the territory of India shall act in aid of the Supreme C...
Which of the following represents non-ohmic resistance ?
'Public provision' refers to those goods and services financed through the budget and:
Which of the following styles of temple architecture was developed between Himalaya to Vindhya?
Which of the following is not a feature of floating-rate savings bonds?
Which artificial element has been provisionally named seaborgium by American researchers in honour of Nobel Laureate Glenn T Seaborg?
From where was Mission Shakti, an anti-satellite missile test was conducted?
Match List – I and List – II and select the correct answer by using the code given below the list.
Relevant for Exams:
