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

      Question

      Vikas borrowed Rs. 10,000 from his friend at compound

      interest of 20% p.a., compounding annually. He added Rs. 'Z' to this money and lent the total sum to Mohan at simple interest of 10% p.a. for 2 years. If total profit earned by Vikas at the end of 2 years is Rs. 800, then find the value of 'Z'.
      A 12000 Correct Answer Incorrect Answer
      B 16000 Correct Answer Incorrect Answer
      C 18000 Correct Answer Incorrect Answer
      D 20000 Correct Answer Incorrect Answer
      E 22000 Correct Answer Incorrect Answer

      Solution

      Interest to be paid by Vikas = 10000 × {(1.2)² − 1} = Rs. 4,400 So, interest earned by Vikas = 4400 + 800 = Rs. 5,200 So, 5200 = {(Z + 10000) × 10 × 2} ÷ 100 Or, 52000 = 2Z + 20000 Or, 2Z = 32000 So, Z = 16000

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question