Question
A man invested Rs. 30,000 at simple interest of 8% p.a.
If he had instead invested the same sum on compound interest of 8% p.a., compounded annually, then how much more he would have earned as interest after 4 years?Solution
ATQ, Simple interest = Sum × (rate of interest/100) × (time in years) Simple interest earned in four years = 30,000 × (8/100) × 4 = Rs. 9,600 Compound interest earned in four years: = 30,000 × {1 + (8/100)}⁴ - 30,000 = 30,000 × (1.08)⁴ - 30,000 = 30,000 × 1.36049 - 30,000 = Rs. 40,814.7 - 30,000 = Rs. 10,814.7 So, required difference = 10,814.7 - 9,600 = Rs. 1,214.7
A manufacturer produces 500 units of a certain product, with each unit costing him Rs 120 to produce. Out of these, he sells 300 units at a profit of 15...
A shopkeeper marked an article ‘A’ 20% above the cost price and sold it for Rs. 6048 after giving a certain discount while he sold an article ‘B�...
The cost price of 25 mangoes is Rs.210. Because of bad quality of mangoes, the shopkeeper has to sell mangoes at a loss that is equal to selling price o...
A Bread packet is sold at a profit of 20% after a discount of 25%. where the difference between profit and discount is Rs.370 then what will be the ma...
A shopkeeper earns a profit of 30% by selling an article. What would be the approximate percent change in the profit percent, if he had paid 20% less an...
If the cost price of 105 articles is equal to the selling price of 60 articles, find the profit percent.
- The marked price of a smartphone is 210 percent of its cost price. If a discount of 35% is given at the time of selling the smartphone, what will be the pr...
A shopkeeper bought an article for Rs 800 and sold it for Rs 960. Find the profit and the profit percentage.
A person named 'P' purchased a table for Rs. _____ and a bed for Rs. 1500. He marked the price of the table 20% higher than its c...
To clear his stock of rice, Sunil starts giving 1.2 kg of rice to customers in place of 1 kg. However, he secretly uses an 800-gram weight instead of a ...
Relevant for Exams:
