Question
A man invested $4,800 in a scheme offering compound interest compounded annually. If the difference between the interest earned in the 2nd year and the 1st year is $48, what is the rate of interest?
More Simple and compound interest Questions
- A table is available for Rs.350 or for Rs. 150 cash down payment together with Rs.230 to be paid after two months. Find the rate of interest charged under ...
- Divesh invested Rs. ‘x’ in a scheme that provides simple interest at a rate of 12% per annum for a period of three years. Meanwhile, Ronit invested Rs. ‘x ...
- Sunil invested Rs. ‘5x’ in scheme ‘A’ offering simple interest of 25% p.a. and reinvested the interest earned from scheme ‘A’ at the end of 4 years in sche...
- The ratio of investment of A and B is 6:7 respectively. If the rate of interest for both A and B is 12% p.a and time duration for A and B is 5 years and 4 ...
- A certain amount becomes six times of itself in 20 years at a certain rate of simple interest p.a. In what time will it become twelve times of itself at th...
- Rs.26000 is split into two sums such that the Simple Interest on one part for 5 years at 10% equals the Simple Interest on the other part for 6 years at 9%...
- Amit invested Rs. 20,000 at simple interest of 10% p.a. If he withdrew Rs. 4,000 after every one year, then find the total interest earned by Amit at the e...
- Rs. 5,000 is invested for 3 years in scheme ‘X’ offering simple interest at 8% per annum. The interest earned is equal to the interest obtained when a cert...
- Rs. 6200 was partly invested in scheme A at 25% per annum compound interest (compounded annually) for 2 years and partly in scheme B at 25% per annum simpl...
- Vishal invested Rs. 3750 at 20% p.a. simple interest for 3 years. After 3 years, he invested the amount received by him at the 20% p.a. compound interest, ...
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
