Question
Ravi invested ₹P in a compound interest scheme at an
annual interest rate of r% for 1 year. Meanwhile, Kriti invested ₹2P in a simple interest scheme at an annual interest rate of 2r% for 2 years. The ratio of the total amount received by Ravi (principal + interest) to the simple interest earned by Kriti is 3:4. Find the value of r.Solution
Since the compound interest is for one year,
Amount of Ravi = P + r% of P = P(100 + r)/100
SP of Kriti = 2P * 2r * 2/100
[P(100 + r)/100]/[2P * 2r * 2/100] = 3/4
(100 + r)/8r = 3/4
400 + 4r = 24r
400 = 20r
r = 20%
Aman lends 50% of his sum of money at 17% per annum, 40% of rest at 12% per annum and the rest at 15% per annum rate of interest. What would be the annu...
The interest received by investing Rs. 4000 for 2 years at compound interest of 20% p.a., compounded annually, was re-invested for 3 years at simple int...
Two cousins, P and Q, made investments in two separate SIPs with different simple interest rates of 12% per annum and 15% per annum, respectively. After...
Simple interest earned on an amount of Rs.1200 at rate of R% per annum after 2 years is Rs.216. Find the simple interest earned on an amount of Rs.1400 ...
- The amount received on a certain sum of money at the rate of interest of 18% per annum simple interest after 8 years is Rs. 12200. What was the principal (...
- The value of an investment at simple interest grows to Rs. 11,200 in 2 years and Rs. 15,200 in 6 years. What was the principal amount?
Rohan deposited Rs. ‘Y’ in a bank offering compound interest of 10% p.a. compounded annually. After 3 years, he invested the amount received from th...
A sum of money gets eight times in 15 years , in how many years it will be 512 times in CI?
A woman borrows Rs. 80,000 from a bank at 8% per annum. She invests Rs. 30,000 of it in a business at 12% per annum and the rest at 10% per annum. Calcu...
A sum doubles in 9 years at simple interest. Find the rate of interest per annum is.