Given:
Simple Interest (SI) for 2 years = Rs. 660
Compound Interest (CI) for 2 years = Rs. 696.30
Formula Used:
CI - SI = SI × (Rate/100)²
Solution:
Difference between CI and SI for 2 years = 696.30 – 660 = 36.30
SI for 2 years = 660
SI for 1 year = 660/2 = 330
∴ Interest rate = (36.3/330) × 100 = 11%
English
100 Questions
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90 Mins English English100 Questions100 Marks90 Mins English English40 Questions30 Marks25 Mins EnglishNavjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
Which sum will provide a compound interest of ₹1020 in 2 years at 4% per annum interest compounded annually?
Ashish has Rs. 1218 with him. He invested money for Arun and Mahesh at 10% compound interest annually. Arun invested for 11 years and Mahesh for 12 years. Both got equal amounts. How much (in ₹) did Ashish give to Mahesh?
Ashok has Rs. 1612 with him. He divided it amongst his sons Raj and Varun and asked them to invest it at 8% rate of interest compounded annually. It was seen that Raj and Varun got same amount after 16 and 17 years respectively. How much (in Rs. ) did Ashok give to Raj?
Mukund has two grandsons Sachin and Chetan. 13 year old Sachin gets some money from Mukund’s wealth and 14 year old Chetan gets rest of the money. But Sachin and Chetan will get money only when they turn 23 years old. Till then the money is in a bank getting interest at rate 10% compounded annually. When both turn 23, they receive the same amount. How much had Mukund given Chetan (in Rs. ) initially, if total money with Mukund was Rs. 25200?
A washing machine is available at 18,000 cash or for 7,600 cash down payment flowed by two equalhalf yearly instalments of Rs. x each. If the rate of interest charged is 16% p.a. and conpounded half yearly,then what is the value of x?
A sum of x amounts to Rs. 75867 in years at 12% p.a., interest compounded after every 10 months. What is the value of x?
Anand has Rs. 1612 with him. He divided it amongst his sons Anil and Ashok and asked them to invest it at 8% rate of interest compounded annually. It was seen that Anil and Ashok got same amount after 11 and 12 years respectively. How much (in Rs.) did Anand give to Anil?
Anand has Rs. 1218. He divided it between Anil and Ashok. They invest at 10% CI annually. After 15 and 16 years respectively, both get the same amount. How much did Ashok get?
If the interest earned during the 2nd year on a certain sum is Rs. 5,520, and the rate of interest is 20% per annum compounded annually, then the sum is:
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