Question
Calculate the principal amount 'x' for which the simple
interest accrued over 5 years at an annual rate of 24% is equivalent to the compound interest earned in 2 years on an amount of Rs. (x – 50), compounded annually at a rate of 50%. What is the value of 'x'?Solution
According to the question, {(x × 24 × 5)/100} = (x - 50)(1 + 50/100)2 – (x - 50) Or, 1.2x = 1.25x - 62.5 Or, x = 62.5/0.05 = 1250 Hence, option e.
More Simple and compound interest Questions
‘Rosie’ the transgenic cow was developed to:
Which of the following minerals controls growth and body weight?
Who discovered bacteria?
Spirogyra reproduces primarily through which process?
Kidney stones are primarily composed of which substance?
The plant cell wall is primarily composed of what?
What is the term for the development of fruit without fertilization or pollination?
The substance that is usually lost by the body during dehydration is-
Oxygen-rich blood from the lungs comes to the ______.
Tendons connect:
Relevant for Exams:
