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  • Question
  • Samir invested Rs.10,000 in the company 'A' for one year in 2006. He reinvested the total amount along with interest for next one year in 2007. If he had invested for both years in the Company 'B', what would have been the difference between the interests earned?


  • Options
  • A. Rs. 16.50 less
  • B. Rs. 116.50 more
  • C. Rs. 128.50 less
  • D. Rs. 128.50 more

  • Correct Answer
  • Rs. 116.50 more 

    Explanation

    We can apply the formula to calculate the interest amount
    I = P x R x t where
    A = Total Accrued Amount (principal + interest)
    P = Principal Amount
    I = Interest Amount
    R = Rate of Interest per year as a percent;
    t = Time Period involved in years

    For Company A in 2006,
    Principle amount = 10000
    Rate of interest = 11.5 % ( As per given graph for company A in 2006)
    Time = 1 year
    The interest amount received by Samir in 2007 I = P x R x t
    The interest amount received by Samir in 2007 = 10000 x 11.5 x 1/100= 10000 x 115 x 1/10 x 100 = 10 x 115 = 1150
    Total amount received by Samir in 2007 = Interest amount + Principal amount = 10000 + 1150 = 11150
    Again For Company A in 2007,
    Principle amount = 11150
    Rate of interest = 15 % ( As per given graph for company A in 2007)
    Time = 1 year
    The interest amount received by Samir in 2008 I = P x R x t
    The interest amount received by Samir in 2008 = 11150 x 15 x 1/100 = 1115 x 15/10 = 1115 x 3/2 = 3345/2 = 1672.5
    Total amount received by Samir in 2008 = Interest amount + Principal amount = 11150+ 1672.5 = 12822.50
    Hence, their interest = 12822.50 - 10000 = 2822.50
    For Company B in 2006,
    Principle amount = 10000
    Rate of interest = 13.5 % ( As per given graph for company B in 2006)
    Time = 1 year
    The interest amount received by Samir in 2007 I = P x R x t
    The interest amount received by Samir in 2007 = 10000 x 13.5 x 1/100= 10000 x 135 x 1/10 x 100 = 10 x 135 = 1350
    Total amount received by Samir in 2007 = Interest amount + Principal amount = 10000 + 1350 = 11350
    Again For Company B in 2007,
    Principle amount = 11350
    Rate of interest = 14 % ( As per given graph for company B in 2007)
    Time = 1 year
    The interest amount received by Samir in 2008 I = P x R x t
    The interest amount received by Samir in 2008 = 11350 x 14 x 1/100 = 1135 x 14/10 = 1135 x 7/5 = 227 x 7 = 1589
    Total amount received by Samir in 2008 = Interest amount + Principal amount = 11350+ 1589 = 12939
    Since, their interest = 12939 - 10000 = Rs. 2939
    Hence, difference between the interests earned = 2939 - 2822.50 = Rs. 116.50
    If Samir had invested the amount in company B for both years then he would get Rs. 116.50 more.


  • More questions

    • 1. For an edition of 12,500 copies, the amount of Royalty paid by the publisher is Rs. 2,81,250. What should be the selling price of the book if the publisher desires a profit of 5%?

    • Options
    • A. Rs. 152.50
    • B. Rs. 157.50
    • C. Rs. 162.50
    • D. Rs. 167.50
    • Discuss
    • 2. 
      For course D, what is the respective ratio of boys and girls?

    • Options
    • A. 3 : 4
    • B. 4 : 5
    • C. 3 : 5
    • D. 5 : 6
    • Discuss
    • 3. 
      The graph shows that the most popular game is :

    • Options
    • A. Hockey
    • B. Football
    • C. Cricket
    • D. Basketball
    • Discuss
    • 4. 
      Graph shows that the most popular game of the country is:

    • Options
    • A. Football
    • B. Hockey
    • C. Cricket
    • D. Tennis
    • Discuss
    • 5. 
      Gopal invested an amount of Rs. 25,000 in company A in 2003 for one year. Thereafter in 2004 he invested the amount along with interest in Company 'B' for one year? What was the total amount of interest earned in the two years together?

    • Options
    • A. Rs. 6218.75
    • B. Rs. 6800
    • C. Rs. 6920
    • D. Rs. 7200
    • Discuss
    • 6. 
      Percentage decrease in taxation in between the years 2006-7 and 2007-08 was:

    • Options
    • A. 71.8%
    • B. 68.8%
    • C. 72.6%
    • D. 75%
    • Discuss
    • 7. 
      From which zone was the total number of candidates who qualified the test, the second highest in the year 2009 and 2010 together?

    • Options
    • A. P
    • B. Q
    • C. R
    • D. S
    • Discuss
    • 8. 
      What is the number of male candidates qualified from state 'G'?

    • Options
    • A. 4536
    • B. 4568
    • C. 5454
    • D. 5544
    • Discuss
    • 9. 
      What is the approximate average number of products manufactured by the company over all the years together?

    • Options
    • A. 36550
    • B. 39480
    • C. 41200
    • D. 43330
    • Discuss
    • 10. 
      What is the percent increase in profit of company C in the year 2004 from the previous year?

    • Options
    • A. 7
    • B. 14
    • C. 21
    • D. 28
    • Discuss


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