New 55% Off on All Courses - Enroll Now! Click Here

    Question

    A principal of Rs. 'x' is invested at an annual compound

    interest rate of 30%, compounded yearly, and grows to Rs. 2535 after 2 years. Calculate the simple interest earned when an additional Rs. 140 is added to the principal 'x' and the total amount is then invested at an annual simple interest rate of 15% for a period of 5 years.
    A Rs. 1480 Correct Answer Incorrect Answer
    B Rs. 1560 Correct Answer Incorrect Answer
    C Rs. 1620 Correct Answer Incorrect Answer
    D Rs. 1230 Correct Answer Incorrect Answer
    E Rs. 1150 Correct Answer Incorrect Answer

    Solution

    According to the question, {x(1 + 30/100)2} = 2535 Or, x = 2535/1.69 = 1500 Sum invested at simple interest = (x + 140) = Rs. 1640 Therefore, simple interest received = (1640 × 15 × 5)/100 = Rs. 1230 Hence, option d.

    Practice Next

    Relevant for Exams: