Question
Ashish invests an amount of Rs. 'A' into two different
SIPs, named 'P' and 'Q', for durations of 3 years and 2 years respectively. The first SIP 'P' yields a simple interest at an annual rate of 11%, while the second SIP 'Q' provides compound interest at an annual rate of 15%, compounded yearly. Given that the net difference in the amounts received from both SIPs is Rs. 60, determine the value of 'A'.Solution
ATQ, In SIP P: Amount received = A + {(A X 11 X 3) /100} = Rs. 1.33A In SIP Q: Amount received = A X {1 + (r/100) }2 = Rs. 1.3225A ATQ: 1.33A - 1.3225A = 60 Or, 0.0075A = 60 Or, 'A' = (60/0.0075) = 8000
More Simple and compound interest Questions
Determine the simplified value of the given mathematical expression.
((8)0- (0.1)-1)/( (6/16)-1 ×(3/2)3+ ((-2)/6)-1) = ?/2
(22% of 1500 + 15% of 2200) = ? x 11
Simplify the given expression:
[(2.3)3 + (15.9) ³ + (3.7) ³ – 3 × 2.3 × 15.9 x 3.7)] / [(2.3) ² + (15.9) ² + (3.7) ² – 2.3 ...
What is the place value of 6 in 367892141?
(21 × 51 + 81)/(9 × 14 - 30) = ?
10% of 100 + 14 = ?% of 120
24% of 400 × 16% of ? = 384
- What will come in place of the question mark (?) in the following questions?
25% of 360+40=?
