Priya had Rs. 3000 with her. She invested Rs. ‘y’ at 15% p.a. simple interest for 4 years and the remaining sum at 40% p.a. compound interest, compounded annually for 3 years. If the total interest received by her is Rs. 2700, then find the value of ‘y’.
ATQ, Simple interest received by Priya = (y × 15 × 4)/100 = Rs. 0.6y Compound interest received by Priya = (3000 – y)(1 + 40/100)³ – (3000 – y) = Rs. 1.728(3000 – y) - (3000 - y) = Rs. 0.728(3000 - y) According to the question, 0.6y + 0.728(3000 – y) = 2700 Or, 0.6y + 2184 - 0.728y = 2700 Or, 2184 - 0.128y = 2700 Or, -0.128y = 2700 - 2184 Or, -0.128y = 516 Or, y = 516 / 0.128 = 4025
Which accounting equation forms the basis of the balance sheet?
Which of the following data structure is linear type?
What is the maximum number of hours in a week that an adult worker is allowed to work for?
Which of the following statements regarding “Right to education act 2009” is/are correct?
I. The RTE Act aims to pro...
Which type of union aims to improve the moral, intellectual, and social life of workers?
What is the maximum number of hours that an adult worker can work in a factory under the Factories Act, 1948?
Within how many days should an appeal be filed against a commissioner's order under the employee compensation act 1923?
Social cost is higher than economic cost because
Which of the following statements is true about the Income and Expenditure Account in Accounting?
