Question
'R' took a loan of Rs. 40,000
from a bank with a compound interest rate of 15% per annum and then invested the same amount at a simple interest rate of 25% per annum for an equal period. Determine the profit made by 'R' after 3 years.Solution
ATQ,
Compound interest amount to be paid = 40,000×(1+15/100)3 = Rs.60,835 Compound interest paid by 'R' = 60,835 - 40,000 = Rs.20,835 Simple interest earned by 'R' = 40,000×25×3÷100 = Rs.30,000 Required profit = 30,000 - 20,835 = Rs.9,165
- Who is the CEO of Indian IT giant Infosys?
UPI Switch, launched by Razorpay in partnership with Airtel Payments Bank, can handle up to __ transactions per second .
The Reserve Bank of India (RBI) in Dec, 2021 introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs). Fi...
Who among the following is/was a famous proponent of Bharatanatyam?
Who among the following rulers appointed Ladha and Pira, two gardeners to high administrative post?
What was the profession of Prime Minister of Japan, Shinzo Abe before it?
In the global insurance industry, what is LIC's rank based on reserves according to a report by S&P Global Market Intelligence?
The 36th National Games is coming to an end after a glorious display of sporting performance and sportsmanship spirit. In its 36th edition which state h...
According to a circular of 2020, by market regulator Sebi, open-ended debt mutual funds are required to hold at least what percentage of their corpus i...
Who among the following wrote ‘Anand Math’ from where India’s National song ‘Vande Mataram’ has been taken?
