ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!
  • google app store apple app store
    • тЬЦ

      Question

      A certain sum amounts to Rs. 2400 in 4 years and to Rs.

      3456 in 6 years, when invested at R% p.a. compound interest, compounded annually. Find the amount received when Rs. 2000 is invested at (R тАУ 5)% p.a. simple interest for 3 years.
      A Rs. 2480 Correct Answer Incorrect Answer
      B Rs. 2720 Correct Answer Incorrect Answer
      C Rs. 2840 Correct Answer Incorrect Answer
      D Rs. 2900 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let, the sum invested at compound interest be Rs. тАШPтАЩ According to the question, {P(1 + R/100)тБ╢}/{P(1 + R/100)тБ┤} = 3456/2400 Or, (1 + R/100)┬▓ = 1.44 = (1 + 20/100)┬▓ Or, R = 20 Therefore, new rate of interest = 20 тАУ 5 = 15% Required amount received at simple interest
      = {(2000 ├Ч 15 ├Ч 3)/100} + 2000
      = 900 + 2000
      = Rs. 2900

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question