Question
A certain sum of money earns Rs. 360 as Simple Interest
and Rs. 381.6 as Compound Interest over a period of 2 years. What is the rate of interest?Solution
Let, rate of interest and principle amount be ‘r%’ per annum and Rs. ‘P’, respectively. Compound interest = P × {(1 + r/100)2 – 1} = 381.6 Simple interest = (P × r × 2)/100 = 360 So, P × {(1 + r/100)2 – 1} - (P × r × 2)/100 = 381.6 – 360 Pr2/10000 = 21.6 Pr = 216000/r So, (P × r × 2)/100 = 360 216000/r × 2 = 36000 r = 12
Anuj invested Rs. ‘x’ at simple interest of 15% p.a. and Anil invested Rs. (x + 500) at simple interest of 10% p.a. If at the end of 2 nd...
Amit invested an amount in Fund 'P', which provides compound interest at a rate of 'r'% per annum, compounded annually. He invest...
A and B started a business with initial investments of Rs. 25000 and Rs. 30000 respectively. After one year, a profit of Rs. 11000 is earned. A being a ...
Vikram invested Rs. 2400 at R% p.a. simple interest for 4 years and Rs. 800 at (R + 9)% p.a. simple interest for 8 years. If the total interest earned e...
The difference between compound interest and simple interest on a sum for 2 years at 10% per annum, when the interest is compounded annually is Rs. 25. ...
At what % of simple interest per annum will Rs. 600 amount to Rs. 720 in five years?
A certain sum gives the interest equals to 3/5th of the sum when invested for 5 years at simple interest. Find the rate of simple interest.
The difference between the interest received from two different banks on Rs. 500 for 2 years is Rs. 2.50. The difference between their rates is ?
Atul has Rs.300 with him. He invested 40% of the amount at 5% p.a. for 6 years and rest at 25% p.a. for 5 years. Find the sum of simple interests receiv...
An amount of Rs. 7200 is invested at 30% p.a. simple interest for 5 years. The interest gained is then deposited at 10% p.a. compound interest for 2 yea...
Relevant for Exams:
