The sum of money that yields a compound interest of Rs.420 during the second yea

Sail E0 Webinar

Question

The sum of money that yields a compound interest of Rs.420 during the second year at 5% p.a is

Options:

A . Rs.21,000

B . Rs.4,000

C . Rs.8,000

D . Rs.42,000

Answer: Option C
Answer: (c)Using Rule 1,CI = P$[(1 + R/100)^T –1] - {PR}/100$420 = P$[(1 + 5/100)^2 - 1] - {P × 5}/100$420 = P$[(21/20)^2 - 1] - {5P}/100$420 = ${41P}/400 - {5P}/100 = {21P}/400$P = ${420 × 400}/21$ = Rs.8000

Was this answer helpful ?

Next Question

Submit Solution

More Questions on This Topic :

Question 1. A principal of Rs.10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first y....during the second year (in rupees) will amount to :

Question 2. The compound interest on Rs.2000 in 2 years if the rate of interest is 4% per annum for the first year and 3% per annum ....and 3% per annum for the second year, will be

Question 3. The compound interest on a certain sum of money for 2 years at 5% per annum is Rs.410. The simple interest on the same s....at the same rate and for the same time is

Question 4. Compound interest on a sum of money for 2 years at 4 per cent per annum is Rs.2,448. Simple interest of the same sum of ....the same rate of interest for 2 years will be

Question 5. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended this money to another p....a profit of Rs.26,410 in 4 years. The man borrowed

Question 6. The simple interest and compound interest (compounded annually) on a certain sum of money with a given rate for a period....are Rs.900 and Rs.954 respectively. The sum of money is

Question 7. If the compound interest on a certain sum for two years at 12% per annum is Rs.2,544, the simple interest on it at the s....it at the same rate for 2 years will be

Question 8. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended 50% of this money to an....a profit of Rs.3,205 in 4 years. The man borrowed.

Question 9. On a certain sum of money the compound interest for 2 years is Rs.282.15 and the simple interest for the same period of ....time is Rs.270. The rate of interest per annum is

Question 10. A certain amount of money earns Rs.540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs.376.20 at th....of interest in 2 years, find the amount (in Rupees).

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

Chapter 3.1 : Overview of Finance & Accounts Department Chapter 3 : Finance & Accounts SAIL E0 - GFM 2024

Chapter 2.1 : Overview Chapter 2 : Materials Management SAIL E0 - GFM 2024

Chapter 1.1 : Personnel Functions- An overview Chapter 1 : Personnel Management SAIL E0 - GFM 2024

GPOE / GPA Combined 1 Free CBT Mock Test SAIL E0 2024

CBT Mixed Test 1 GPOE/GPA SAIL E0 2024