Question
A certain sum of money invested at 20% per annum for 2
years compounded annually, but if interest would have been compounded half yearly on the same amount, then Rs. 241 more interest would have been received. Find the sum of money invested.Solution
Let the certain amount of money invested be Rs.‘P’.
When interest is compounded yearly,
So, CI = P(1 + 20/100) 2 – P = P[(1 + 20/100) 2 – 1] = P(1.44 – 1) = 0.44 × P
When interest is compounded half yearly,
And, CI = P(1 + 10/100) 4 – P = P[(1.1) 4 – 1] = P(1.4641 – 1) = 0.4641 × P
According to question, 0.4641×P – 0.44×P = 241
0.0241×P = 241
P = 241/0.0241 = 10000
Therefore, the certain amount of money invested is Rs. 10000.
A quantity is first increased by 60% and then decreased by 25%. Calculate the overall percentage increase or decrease.
- In an examination with two subjects, Science and Social Studies, Priya obtained 75 out of 90 in Science and 82 out of 95 in Social Studies. What was her ov...
Vegetables lose water when cooked. Raw vegetables contain 90% water, but after cooking they contain only 50% water. How much raw vegetable is needed to ...
A car's value decreases by 20% every year. If the car was purchased for Rs 3,30,000, what will be the total percentage decrease in its value over a 3-ye...
Meenu spent 10% of the salary on entertainment and 10% on makeup. She spent 20% of the remaining on the food and 50% of the remaining invested in mutual...
70% of one number is equal to 50% of another number. If the sum of both numbers is 420, find the difference between them.
In a colony, there are 30 APL families and 36 BPL families. Each APL and BPL family got blankets equal to 25% and 75%, respectively of total number of f...
- Varun spent 28% of his salary on bills, 45% of the remaining amount on groceries, and saved the rest. If his savings are Rs. 1260, then find the amount he ...
In a survey conducted in a locality, it was found that 50% read newspaper A, 40% read newspaper B, and 20% read neither A nor B. If the number of person...
Ravi had Rs. 20,000. He donated 15% of the total for disaster relief, then gave 10% of the remaining for rural education, and 30% of what was left for o...
Relevant for Exams:
