Question
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 annually, for Rohan it was compounded quarterly. How much more will Rohan receive as interest compared to Anita at the end of the 2.5 years?Solution
For Anita (compounded annually): A = ₹12,000 (1 + 20/100)2.5 = ₹12,000 × (6/5)2.5 = ₹20,953.92 Interest = A – P =20953.92-12000 = ₹8,953.92 For Rohan (compounded quarterly): Rate per quarter = 20 × 3/12 = 5% Time = 2.5 × 4 = 10 periods A = ₹12,000 (1 + 5/100)10 =12,000 × (21/20)10 = ₹21,331.02 Interest = A – P =21331.02-12000 = ₹9,331.02 Difference in interest = 9,331.02 - 8,953.92 = ₹377.10
- Rahul bought a gadget and increased its price by 60% above the cost price. He sold it after offering a discount of 20% for Rs. 2400. What would be the sell...
The shopkeeper sold the earrings at the profit of 25% and the cost price of earrings is Rs.1500. He earns x% profit on bracelet costing Rs.1250. If the ...
Jupiter borrowed a sum of Rs 31,500 from Mars at the rate of 14% per annum for 3 years. He added some more money in it and lent it to Saturn at the rat...
Tarun bought a Toaster for Rs. 24000. After one year he sold it to Lalit at 10% less of his cost price. Lalit spends extra Rs. 400 for its repair. And ...
A bag of cost price of Rs. 6000 is marked up by a certain percentage, and a discount percent of twice the markup percent is offered on it. If there is a...
The cost of 5 guns is equal to the cost of 12 magazines. If a seller marks the price of each gun 50% higher than its cost price and gives away one magaz...
A retailer listed a watch at Rs. 600 and provided successive discounts of 10% and 20%. After all discounts, if his profit was Rs. 36, what was the cost ...
Maple Publications sold a Magazine for Rs. 210 and made a profit of 10% on CP and sold a Journal for Rs. 560 and made a profit of 12% on its CP. If the ...
- Varun sold an item to Ritu at a 12% profit. Ritu then sold it to Nikhil at a 28% profit. If Nikhil purchased the item for Rs. 798.72, what was the original...
- A bookseller made a profit of (100/9) % on selling a book. If he had purchased the book for 12.5% less than its original cost price and sold it for ₹6,24...
Relevant for Exams:
Hey, Don't leave. If you have any queries regarding any exam let us know here.
