📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A principal amount of ₹5p grows

    to ₹(5p + 660) in 2 years at an annual interest rate of 20% compounded yearly. Determine the compound interest earned when ₹30p is invested for 1 year at an annual interest rate of 30%, compounded semi-annually.
    A Rs.2500.05 Correct Answer Incorrect Answer
    B Rs.1502.7 Correct Answer Incorrect Answer
    C Rs.2902.5 Correct Answer Incorrect Answer
    D Rs.2062.2 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, 5p(1+20/100)2 = 5p+660 5p(120/100)2 = 5p+660 5p(6/5)2 = 5p+660 5p(36/25) = 5p+660 36p = 25p+3300 p = Rs.300 30p = Rs.9000 Required answer = 9000[(1+15/100)2 -1] = Rs.2902.5

    Practice Next
    More Simple and compound interest Questions

    • Directions: You are required to match statements from columns 1, 2 and 3 and find which of the following pairs of statement make sense meaningfully and...

    • In each of the following questions, a sentence is given with three blanks. Each question is followed by a table which consists of three columns. You ar...

      • (A)Climate change solutions will be

      Column (1)

    • In the question given below, three columns are given. Columns 1 and 3 contain different independent sentences (5 in each column) and column 2 contains ...

    • In the following question, a sentence is divided in to three parts, given in column 1, 2 and 3. Match the statements from column 1 with those in column...

      • Relevant for Exams:

      ask-question