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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. 
      In the art faculty number of students who have opted the course of stenography is how much percent of the total student in the faculty?

    • Options
    • A. 27%
    • B. 10%
    • C. 18%
    • D. 15%
    • Discuss
    • 2. 
      If the miscellaneous charges are Rs. 6000, the advertisement charges are:

    • Options
    • A. Rs. 10,000
    • B. Rs. 12,000
    • C. Rs. 25,000
    • D. Rs. 27,000
    • Discuss
    • 3. 
      The number of students playing Badminton from School E is p % of the students playing Badminton from School B. Then p equals :

    • Options
    • A. 40
    • B. 50
    • C. 42
    • D. 41
    • Discuss
    • 4. 
      What is the average distance traveled by all the trucks together?

    • Options
    • A. 510 Km
    • B. 515 Km
    • C. 425 Km
    • D. 475 Km
    • Discuss
    • 5. 
      The total production of company C in 1993 and 1994 is what percentage of the total production of company A in 1991 and 1992?

    • Options
    • A. 95
    • B. 90
    • C. 110
    • D. 115
    • Discuss
    • 6. 
      The number of men working in the Marketing department forms what % of the total number of employees in the organisation?

    • Options
    • A. 22.5
    • B. 34.5
    • C. 19.5
    • D. 38.5
    • Discuss
    • 7. 
      The ratio of the total amount spent on football to that spent on Hockey was :

    • Options
    • A. 1 : 15
    • B. 1 : 1
    • C. 15 : 1
    • D. 3 : 2
    • Discuss
    • 8. 
      If 60% boys and 70% girls pass in their respective courses, then total pass percentage is :

    • Options
    • A. 58%
    • B. 66%
    • C. 54%
    • D. 62%
    • Discuss
    • 9. 
      How is P related to J?
      I. M is the brother of P and T is the sister of P
      II. P's mother is married to J's husband who has one son and two daughter.

    • Options
    • A. if the data in statement I alone is sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
    • B. if the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
    • C. if the data either in statements I alone or in statement II alone are sufficient to answer the question; and
    • D. if the data given in both the statement I and II together are not sufficient to answer the question; and
    • Discuss
    • 10. 
      In which of the following years was the increase/ decrease in percent profit from the previous year the minimum?

    • Options
    • A. 1994
    • B. 1996
    • C. 1997
    • D. 1995
    • Discuss


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