Question
A sum of Rs. 6000 at a certain rate of interest in simple
interest for six years is amounted to Rs. 11400. If the same sum of money at same rate of interest compounded annually for two years, then what is the interest earned?Solution
Let R% be the rate of interest.
11400 - 6000 = (6000 * R * 6)/100
=> R = 5400/360 =
=> R = 15%
So, CI = 6000 * [(1 + 15/100) 2 - 1]
=> CI = Rs. 1935
More Simple and compound interest Questions
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Length of a minute hand of a clock is 14 cms. Area swept bv the minute hand in 5 minutes is:
How many times are the hour and the minute hands of a clock at a right angle in a period of two days?
Find the cube of 373.
