📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Rs. 90Y when invested for 5 years at simple interest of

      12% p.a., yields an interest of Rs. 2700. If Rs. 110Y is invested for 3 years at compound interest (compounded annually) of 8% p.a., then find the amount received.
      A RS.5000 Correct Answer Incorrect Answer
      B Rs.4230 Correct Answer Incorrect Answer
      C Rs.6922 Correct Answer Incorrect Answer
      D Rs.3571 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ, (90Y × 5 × 12) ÷ 100 = 54Y = 2700 So, Y = 2700 ÷ 54 = 50 And so, sum invested at compound interest = 110Y = 110 × 50 = Rs. 5500 So, required amount received = 5500 × {(1 + (8/100))}³ = 5500 × 1.08³ = Rs. 6922.

      Practice Next
      More Simple and compound interest Questions
      ask-question