Question
Nikhil invested two amounts, Rs. '2N' and Rs. '3N', at
simple and compound interest rates respectively. The first amount, Rs. '2N', was invested at a simple interest rate of 25% per annum for a period of 2 years. The second amount, Rs. '3N', was invested at a compound interest rate of 20% per annum, also for 2 years. The interest for the compound investment was calculated annually. After the investment period, the difference between the interest earned from these two investment schemes was Rs. 480. Determine the value of 'N'.Solution
Simple interest = Principal X time period in years X rate ÷ 100 = 2N X 2 X 25 ÷ 100 = Rs. 'N' CI = Sum x (1 + Rate/100)t - Sum Or, CI = 3N X (1.2)2 - 3N Or, CI = 3N X (1.44) - 3N Or, CI = 4.32N - 3N So, CI = 1.32N ATQ: 1.32N - N = 480 Or, 0.32N = 480 So, 'N' = 1,500
A person 'A' invested a sum at an annual simple interest rate of 15% for 2 years. If the rate of interest is raised by 5%, the si...
The certain sum amounts to Rs 9,982.50 in 2(1/2) years at 12% p.a., interest compounded 10-monthly. The sum (in Rs) is:
Simple interest earned on an amount of Rs. 2600 at rate of R% per annum after 4 years is Rs. 1300. Find the simple interest earned on an amount of Rs. 1...
Sudeep invested 1/8 of a certain sum at 5% p.a. for two years and 3/5 of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. ...
A man invested Rs. 20,000 at simple interest of 10% p.a. If he had instead invested the same sum on compound interest of 10% p.a., compounded annually, ...
The difference between compound interest and simple interest on a sum of Rs. 20,000 for 2 years at the same rate is Rs. 200. What is the annual rate of ...
The simple interest received on a sum is 25/36 of the sum. The number of years is equal to the annual rate of interest. What is the annual rate of inte...
A person invests ₹8000 in a scheme offering 5% simple interest per annum. After 2 years, the total amount becomes ₹8800. How much interest is earned...
A man invested a certain amount of sum at 20% per annum simple interest and earned an interest of Rs 3500 after 4 years. If the same amount is invested ...
The difference between compound interest and simple interest at rate of 20% per annum for 2 years is Rs. 240. Find the simple interest obtained on same ...
Relevant for Exams:
