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
Social networks are
Communication is the sharing of message and requires six elements. Those elements are a source, a _____, a channel of communication, a receiver, and the...
Cisco Systems, the computer networking equipment giant communicates with its distributors, resellers, and customers using its:
Which of the following is NOT an example of a purchase of industrial goods?
Kodak & Fuji control the majority of sales for amateur photographic film. This exemplifies the competitive situation called:
During the days before Diwali, a holiday club wants to get new clients and is coming up with attractive joining offers. What form of non-store retailing...
Americans and Canadians are relatively more spendthrift than Indians and the English, when you define individuals using:
Your company earned sales of $10 million last year and is anticipating a growth rate this year of 12.5%. You calculate this year's sales may be $12.5 mi...
A survey of military health care providers on what types of supplies and how much should be stockpiled in the event of a bioweapons' terrorist attack co...
_______ believes that consumers will favour products that are readily available at reasonable prices.
Relevant for Exams:
