The compound interest on a certain sum for 2 years is Rs. 756 and simple interes

Sail E0 Webinar

Question

The compound interest on a certain sum for 2 years is Rs. 756 and simple interest is Rs. 720. Now, If the sum is invested such that the SI is Rs. 1296 and the number of years is equal to the rate percentage per year, then find the rate per cent:

Options:

A . 8

B . 7.5

C . 6

D . 10

Answer: Option C
:
C
It is given that simple interest for 2 years = Rs. 720
So, for 1 year = Rs.

\frac{720}{2}

= Rs. 360 (because it is SI)
Compound Interest for 2 year = Rs. 756
Difference in the interest = Rs. 36 (756-720)
This difference is the interest on the interest of the first year.
So rate of interest

= (\frac{36}{360}) \times 100 = 10 %

Now the interest for

1^{s t}

Year = Rs. 360 at

10 %

SI
So, principal for

1^{s t}

year = Rs. 3600
We have,

S I = \frac{(P \times R \times T)}{100}

\frac{3600 \times k^{2}}{100} = 1296

k = 6

Was this answer helpful ?

Next Question

Submit Solution

More Questions on This Topic :

Question 1. Arun invests in bonds worth Rs. 40000 and he receives a 15% interest per annum. How much money should he invest in b....per annum so that he gains overall 12% per annum?

Question 2. In a school, 40% of the students draw and paint. 40% of those who draw do not paint. If the students do one of the two, ....one of the two, then what % of students paint?

Question 3. A man purchased 40 kg of cotton at a rate of Rs 65 per kg. then he extracted 20% waste(by weight) from it so....sell Rs.20 per kg. what % profit did he make?

Question 4. Fresh grapes contain 90% water by weight and dry grapes contain 20% water by weight. The weight of dry grapes o....grapes is (in kg., in decimal, up to 2 decimal places) ___

Question 5. Answer the questions based on the information given below: Out of 210 accidents that occurred on the DND Flyway, 50 resu....Chest Injuries. The number of people having no injuries is ___.

Question 6. In a music school, three instruments are taught: Tabla, Violin and Guitar. Out of 278 students in the school, 20 learn T....the number of students who have occupied only one seat.

Question 7. Out of 210 accidents that occurred on the DND Flyway, 50 resulted in Head Injury, 105 in Chest Injury and 56 in Limb Inj....of people who suffered all the three injuries is ___.

Question 8. In a music school, three instruments are taught: Tabla, Violin and Guitar. Out of 278 students in the school, 20 learn T....in Tabla and Violin Class but not in Guitar Class.

Question 9. Find the maximum number of people who suffered at least one injury.....

Question 10. In an examination, it was found that every student has failed in at least one subject out of the three subjects: English....failed in English and Science but not Maths is ___.

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

DSP Combined 1 Free Revision Test SAIL JO E-0

GPOE / GPA Combined 1 Free Revision Test SAIL JO E-0

BSP Plant Specific Review Test SAIL JO E-0

BSL Combined 1 Free Revision Test SAIL JO E-0

GFM Combined 1 Free Revision Test SAIL JO E-0