Question
A sum of Rs. 8000 amounts to Rs. 9680 at 10% p.a.,
interest being compounded yearly in a certain time. The simple interest earned (in Rs.) on the same sum for the same time and same rate is:Solution
Let desired time be ātā years So, 8000(1 + 10/100)t = 9680 Or, (11/10)t = 9680 / 8000 = 121/100 = (11/10)2 Or, t = 2 Desired simple interest = 8000 Ć 0.10 Ć 2 = Rs. 1600
Which cost represents the expenses that remain constant regardless of the quantity produced in the short run?
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