Question
Raju invested a certain sum at
25% p.a. compound interest, compounded annually, and earned an interest of Rs. 2925 in 2 years. What will be the interest when the same amount is invested at 20% p.a. simple interest for three years?Solution
ATQ,
Compound Interest Formula: A = P × (1 + R/100)^T Given: Interest earned = Rs. 2925 Rate = 25% p.a. Time = 2 years A = P × 1.5625 Interest earned = A - P = 2925, P × 0.5625 = 2925 P = 2925 / 0.5625 P = 5200 Simple Interest Formula: SI = (P × R × T) / 100 Given: Principal = Rs. 5200 Rate = 20% p.a. Time = 3 years SI = (5200 × 20 × 3) / 100 SI = 3120 Hence, The interest earned with 20% p.a. simple interest for 3 years is Rs. 3120.
According to the Goldman Sachs Group Inc. the Gross domestic product may expand by ___% in calendar year 2023 from an estimated 6.9%.
Which ministry has recently launched the Udyam Assist Platform (UAP) to bring informal micro enterprises in the country into the formal fold and enable ...
The First Asian Buddhist Summit (ABS) held in New Delhi on November 5-6, 2024, is organized by which ministry in India?
Which pair won gold medal in SL3- SL4 category in Para- Badminton International- 2023?
The Adani Ports and Special Economic Zone Ltd (APSEZ) completed the acquisition of Karaikal Port Private Limited (KPPL) for ________ pursuant to approva...
The Reserve Bank has selected two global consultancy firms to develop systems using artificial intelligence and machine learning for its supervisory fun...
Agritech firm Rukart, which sells 'Subjee Cooler' to enhance the shelf life of fruits and vegetables, has tied up with ______ to help potential customer...
Which ministry signed a memorandum of agreement (MoA) with the Indian Council of Medical Research (ICMR) to enhance collaboration in health research in ...
Who has been selected to pilot NASA’s Axiom-4 mission to the International Space Station (ISS)?
Who will inaugurate the AIFF-FIFA academy in Bhubaneswar on November 21?