Explanation:
Let rate = R% and time = R years.
Then,
=>
Let each installment be Rs.x. Then,
(P.W. of Rs.x due 1 year hence) + (P.W of Rs.x due 2 years hence) + (P.W of Rs. X due 3 years hence) = 7620.
=> x = 3430
Amount of each installment = Rs.3430
Thus I only or (II and III) give answer.
Correct answer is (D)
Compound Interest on P at 10% for 2 years when interest is compounded half-yearly
=
Simple Interest on P at 10% for 2 years =
Given that difference between compound interest and simple interest = 124.05
=>
P=8000
Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.
.. C.I. = Rs. (9261 - 8000) = Rs. 1261.
Interest for 1 year is the same whether it's simple interest or the compound interest.
Now interest of third year = 8575 - 7350 = 1225; means principal for this interest is 7350 if comound interest is takenIf 7350 is the principal interest = 1225
if 100 is the principal interest =(1225/7350) * 100 = 50/3 %
When a thing increases for two successive times the overall increase on initial amount = a + b + (a * b)/100
Therefore overall interest for two years = 50/3 + 50/3 + [(50/3)*(50/3)]/100 = 325/9 %
Therefore amount after 2 years = 100 + 325/9 = 1225/9
If 1225/9 is the amount principal =100
if 7350 is the amount principal =(900/1225)*7350 =5400
So sum = 5400; Rate = 50/3 %
Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.
CJ. = Rs. (18522 - 16000) = Rs. 2522
difference in C.I and S.I in 2years =Rs.32
S.I for 1year =Rs.400
S.I for Rs.400 for one year =Rs.32
rate=[100*32)/(400*1)%=8%
difference between in C.I and S.I for 3rd year
=S.I on Rs.832= Rs.(832*8*1)/100=Rs.66.56
Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^n ] = 1331 or (11/10)^n = (1331/1000) = (11/10)^3
n = 3 years
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