Question
A man takes a loan of Rs. 50,000 from a bank at a simple
interest rate of 10% per annum. He immediately lends the same amount to a friend at a compound interest rate of 10% per annum, compounded annually. What is the total profit he earns at the end of 3 years?Solution
Total interest paid by the man to the bank = (50000 X 10 X 3) ÷ 100 = Rs. 15,000
Total interest received by the man from his friend = 50000 X {(1.1) 3 - 1} = Rs. 16,550
So, profit earned by the man = 16550 - 15000 = Rs. 1,550
A pond of water appears less deep due to –
Which law states that the ratio of the potential difference across a conductor to the current through it is constant, provided the temperature remains c...
When white light passes through a glass prism, which color deviates the least?
The weight (W) of a body is derived from which formula?
What is the momentum of a 2 kg object moving at 3 m/s?
In an experimental arrangement of a Fresnel's biprism, monochromatic light of wavelength 2. is used to produce interference fringe pattern. On introduc...
Parsec is the unit of
Match the following machines with their working principles:
(i) Electric motor - (a) Heat energy into mechanical energy
(ii) Steam engin...
What happens to the electrostatic force between two charges when the distance between them decreases?
Relevant for Exams:
