Question
A person invests ₹40,000 at a simple interest rate of
5% per annum for 2 years and reinvests the total amount, including interest, in a scheme offering compound interest of 10% per annum compounded yearly for 2 years. Find the total amount after 4 years.Solution
Simple interest for 2 years = (40,000 × 5 × 2)/100 = ₹4,000. Total amount after 2 years = ₹40,000 + ₹4,000 = ₹44,000. Compound interest for 2 years = 44,000 × (1 + 10/100)² = 44,000 × 1.21 = ₹53,240. Correct option: e
The state’s capital Jaipur formation day is observed on?
Which of the following countries launched the World's most powerful GEO Spy Satellite-the Gaofen 4’?
Which Indian state set a Guinness World Record for the largest number of individuals performing Surya Namaskar simultaneously, and where did this event ...
Consider the following statements in regards to the Economic Survey of India 2022-23:
1.India became the largest mobile phone manufacturer global...
The Mannerheim Line is a historical border between which two countries?
Nauroz is celebrated by which of the following communities in India?
Recently in Dec, 2022, Prime Minister Narendra Modi to lay the foundation stone and inaugurate projects worth Rs 75,000 crores in which of the following...
‘ Ikshak ’ , the third of the four Survey Vessels ( Large ) ( SVL ) Project was launched . What does Ikshak mean?
Recently Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Shri Narendra Modi has approved Minimum Support Prices (MSPs) for ___...
Who was crowned Miss Grand International 2024?