Rahul invested a certain amount at a simple interest rate of 8% per annum, and after 6 years, it grew to Rs. 1,850. If he had instead invested the same sum at a compound interest rate of 20% per annum for 2 years, what would be the total amount he would have after those 2 years?
ATQ, Simple interest = (sum × rate of interest × time period in year) ÷ 100 Let the sum invested be Rs. 'S' So, 1850 - S = (S × 8 × 6) ÷ 100 Or, 1850 - S = 0.48S Or, 1850 = 1.48S So, S = 1250 Amount received from second investment = Sum × {1 + (rate/100)}Time period So, required amount = 1250 × {1 + (20/100)}2 = 1.44 × 1250 = Rs. 1,800
Which Indian long jumper successfully defended his title and won gold at the International Jumping Meeting in Greece?
What was the reason behind the RBI's imposition of a monetary penalty on Omkar Nagreeya Sahkari Bank Ltd . , Kanpur?
Which product was recently launched by SBI General Insurance to support infrastructure projects?
Partha Satpathy is an Indian ambassador to which country?
How much penalty did the Reserve Bank of India impose on the Thane District Central Co - operative ( TDCC ) Bank?
According to the Speedtest Global Index by Ookla,India’s median download speed increased 3.59 times after 5G was launched.What rank has India achieved...
What will be the new capital of Andhra Pradesh?
Which Indian institution secured the 40th position in the QS Asia University Rankings 2024?
______ has launched an online Radio, a platform to provide bite-sized content that offers both entertainment and livelihood enhancement tools.
What was the primary focus of the Ganga Waters Treaty signed between India and Bangladesh in 1996?