Question
Rohit deposited Rs. ‘x’ in a bank at 8% compound
interest per annum for 3 years, compounded annually. If he earned an interest of Rs. 2,597.12, find the value of ‘x’.Solution
ATQ,
Interest earned = x × {(1 + 0.08)³ – 1} = 2597.12
x{(1.08)³ – 1} = 2597.12
x{1.2597 – 1} = 2597.12
0.2597x = 2597.12
x = 10000
So, the value of x is Rs. 10,000
Who has been sworn in as the 41st Prime Minister of New Zealand?
“It’s Fun Banking” is the tagline of which of the following small finance banks?
Which of the following statements accurately describes the recent meeting between India and Malaysia regarding cooperation in the agricultural sector?
Consider the following statements about Mission Karmayogi:Â
1.     Recently, on the occasion of Constitution Day the PM Modi launched the ...
Who is the author of the second and concluding volume of the book on the life and works of Veer Savarkar, titled "Savarkar: A Contested Legacy (1924-196...
According to a Reuters poll of economists, what was the expected consumer price inflation (CPI) for August 2024?
Which organization recently received approval from the Reserve Bank of India (RBI) to commence asset reconstruction operations in the fiscal year 2024-2...
Ahmedabad and Which Indian state recently found place in world’s 50 greatest places of 2022 by TIME Magazine?
- Madhya Pradesh now has how many tiger reserves including Madhav National Park?
The Mumbai-based realtor Suraksha Realty is acquiring Jaypee Infratech for a consideration of _____.
Relevant for Exams:
