Question
An initial investment of Rs. x, when placed in an
account offering r% per annum as simple interest over a period of 16 years, grows to five times its original value. If an additional Rs. 240 is added to this principal (making it Rs. x + 240) and then invested at an interest rate of r + 25% per annum compounded annually for two years, the resulting balance is Rs. 6480. Determine the value of 'x'.Solution
According to the question, (x × 16 × r)/100 = 5x – x Or, r = 400/16 = 25 Therefore, (r + 25)% = 50% Or, (x + 240)(1 + 50/100)2 = 6480 Or, 2.25(x + 240) = 6480 Or, x + 240 = 2880 Or, x = 2640
- 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?
Relevant for Exams:
