Question
Vishal has certain sum of money with him. He invested
80% of the sum in scheme ‘X’ offering 15% p.a. simple interest for 8 years and received Rs. 3240 as interest. He then invested the amount received from scheme ‘X’ in scheme ‘Y’ for 2 years at 50% p.a., compound interest compounded annually. Find the amount received by Vishal from scheme B.Solution
Let, Vishal invested Rs. x in scheme ‘X’ According to the question, {(x × 15 × 8)/100} = 3240 Or, x = 3240/1.2 Or, x = 2700 Total sum Vishal had = 2700/0.8 = Rs. 3375 Amount received from scheme ‘X’ = 2700 + 3240 = Rs. 5940 Amount received from scheme ‘Y’ = 5940(1 + 50/100)2 = Rs. 13365
A certain sum of money becomes Rs. 1250 in 1 year and 3556 in 3 years at certain rate of simple interest. Find the sum of money invested.
A sum of money doubles itself in 5 years at simple interest. What is the rate of interest per annum?
A person invests ₹8000 in a scheme offering 5% simple interest per annum. After 2 years, the total amount becomes ₹8800. How much interest is earned...
A certain amount of money, when invested at a simple interest rate of 'r%' per annum, grows to 6 times its original value in 24 y...
Calculate the difference between the simple interest and compound interest accrued on an amount of Rs. 1600 over a period of 2 years at an annual intere...
Person 'P' invested ₹4y at a simple interest rate of 35% per annum and ₹3y at a compound interest rate of 20% per annum (compounded annually), both ...
A certain sum when invested for 3 years in a scheme offering simple interest of 10% p.a. gives an interest of Rs. 765. What is 110% of the sum invested?
How much time will it take for an amount of Rs.2000 to yield Rs. 640 as interest at 8% p.a. of SI?
A certain amount, when invested at a simple interest rate of 18.2% per annum, grows to Rs. 14,552 in 4.5 years. What is the initi...
Two cousins, P and Q, made investments in two separate SIPs with different simple interest rates of 12% per annum and 15% per annum, respectively. After...
Relevant for Exams:
