Question
Aman invested Rs. 'a' and Rs. (a + 2300) in SIP 'P' and
'Q', respectively, in a way that the amounts received from both SIPs after 2 years are equal. If SIP 'P' and 'Q' provide compound interest (compounded annually) at rates of 20% p.a. and 10% p.a., respectively, then determine the value of 'a'.Solution
We can say that, Amount received on investing Rs.‘a’ for 2 years at 20% interest p.a., compounded annually = a × (1 + 20/100)2 = Rs.{y × (6/5)2} Amount received on investing Rs. (a + 2300) for 2 years at 10% interest p.a., compounded annually = (a + 2300) × (1 + 10/100)2 = Rs. {(a + 2300) × (11/10)2} ATQ; a × (6/5)2 = (a + 2300) × (11/10)2 Or, (36a/25) = (a + 2300) × (121/100) Or, (36a/25) × (100/121) = a + 2300 Or, 144a = 121a + 287300 Or, 23a = 278300 Or, a = 12100
Which factory of the Indian Railways is located at Bengaluru?
Where is the rail wheel factory located?
The Indian Railways carried 1108.79 million tonnes of freight in:
Presentation of the first ever railway budget in India held in:
Jamalpur has a training institute of Indian Railways for the training of
The first thoughts for a railway system in British India were expressed in a Parliamentary Select Committee meeting held ______ in in 1831-32.
When was the Southern Railway zone created?
What is the name of the mobile application recently launched by Indian Railways for passenger safety?
Which institution released a report titled ‘Derailment in Indian Railways’?
Palace on Wheels is run by which state rail tourism?