Question
An initial investment grows to four times its original
amount in 6 years under compound interest. How many years will it take for the investment to grow to 16 times its original amount under the same conditions?Solution
Let the amount invested be Rs. 'P' and rate of interest is 'R%' p.a.
Amount = Principal X [(1 + (R/100) ]time
So, 4P = P X [1 + (R/100) ]6
Or, [1 + (R/100) ]6 = 4
On squaring both sides,
We get, [1 + (R/100) ]12 = 16
Therefore, required time = 12 years
A product is marked 50% above its cost price and is sold for Rs. 1,080 after giving two successive discounts of 20% and 10%, respectively. Calculate the...
A shopkeeper marked an article 60% above its cost price and made a profit of Rs. 192 when he sold the article after giving a discount of 30%. Find the p...
Neha sold a product to Sanjana at a 20% profit. Sanjana then sold it to Meera, earning the same absolute profit (in Rs.) that Neha made. Finally, Meera ...
A shopkeeper sold an article at a discount of 11%. If he had given a discount of 6% in place of 11%, then he would have earned Rs. 112 more. If the cost...
Anoop sold two items, A and B, at discounts of 16% and 20%, respectively. The profits he earned from selling items A and B were 2...
A shopkeeper bought article ‘A’ for Rs. ‘x’ and marked it 25% above its cost price and sold it for Rs. 2600. Marked price of article ‘B’ is ...
A shopkeeper sold 46 articles for Rs.6240 and suffered a loss of 16%. How many articles should he sell for Rs. 9360 to earn a profit of 26%?
Sushil sold an item at 6% profit. Had he sold it for Rs. 5,760 less, he would have incurred a loss of 10%. Find the cost price of the item.
A shopkeeper sells an article for Rs 80 and earns thrice the profit that he would have earned on selling this article for Rs 69. Find the C.P of ...
A shopkeeper marked an article Rs. 400 above the cost price and sold it after giving two successive discounts of 20% and 15% respectively, and faces a l...
Relevant for Exams:
