Question
sum invested at a certain rate of compound interest,
compounded annually amounts to Rs.12,240 after 2 years and amounts to Rs. 17,625.6 after 4 years. If 60% of the sum is invested in the simple interest of 7p.a 10 years, then find the simple interest earned.Solution
Let the sum invested = Rs. 'K' Let the rate of interest = 'y'% p.a. Then, according to the question K X {1 + (y/100)} ² = 12,240 ....... (I) And K X {1 + (y/100)} ⁴ = 17625.6 ........ (II) On dividing equation (I) from equation (II), we have. {1 + (y/100)} ² = 1.44 Or, 1 + (y/100) = 1.2 Or (y/100) = 0.2 So, y = 20 Therefore, sum invested = 12240 ÷ {(100 +20)/100} ² = 12240 ÷ 1.44 = Rs. 8,500 so, sum invest at simple interest= 8500×60/100=5100 so simple interest earned =5100×7×10/100=3570rs
Which of the following is not a measure of central tendency?
In which scenario is stratified sampling most suitable?
What differentiates big data from traditional data in terms of its defining characteristics?
Which data collection method is best suited for obtaining real-time data from a third-party application?
In time series forecasting, what is the primary role of the ARIMA model ?
Which data modeling technique is used to represent the relationships between entities in a database?
Which of the following scenarios is best suited for web scraping as a data collection method?
Which of the following methods is used to ensure stationarity in time series data, a critical prerequisite for ARIMA modeling?
Which of the following Python libraries is most appropriate for creating statistical visualizations such as violin plots and heatmaps?
When identifying business problems, what is the first step a data analyst should take to ensure clarity and effectiveness in solving the problem?
Relevant for Exams:
