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

      Question

      Aman borrowed Rs. 25,000 from his friend at compound

      interest of 10% p.a., compounding annually. He added Rs. 'Y' to this money and lent the total sum to Rohan at simple interest of 10% p.a. for 3 years. If total profit earned by Aman at the end of 3 years is Rs. 1,130, then find the value of 'Y'.
      A 5000 Correct Answer Incorrect Answer
      B 6350 Correct Answer Incorrect Answer
      C 7000 Correct Answer Incorrect Answer
      D 4500 Correct Answer Incorrect Answer
      E 8000 Correct Answer Incorrect Answer

      Solution

      Interest to be paid by Aman = 25000 × {(1.1)³ − 1} = Rs. 8,275 So, interest earned by Aman = 8275 + 1130 = Rs. 9,405 So, 9405 = {(Y + 25000) × 10 × 3} ÷ 100 Or, 94050 = 3Y + 75000 Or, 3Y = 19050 So, Y = 6350

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question