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Simple and Compound Interests

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Topic starter

A sum was borrowed at 20% p.a. compound interest. It was repaid in three annual installments with each instalment being paid at the end of an year. The first, second and third installments were 1200, 1152 and 2592 respectively. Find the sum borrowed.

Aditya Dang 21/06/2021 2:40 pm

The sum borrowed is Rs. 3300.

9 questions & discussions are there under this sub-topic
4

QUESTION 2

Alex invested his savings in two parts. The simple interest earned on the first part at 15% per annum for 4 years is the same as the simple interest earned on the second part at 12% per annum for 3 years. Then, the percentage of his savings invested in the first part is

  1. 62.5%

  2. 37.5%

  3. 60%

  4. 40%

Shivangi Garg 23/12/2023 5:55 pm

@madhav

Let ₹x be invested in the first instrument and ₹y be invested in the second instrument.
The interest earned in the first instrument = 0.15 * x * 4
The interest earned in the second instrument = 0.12 * y * 3
0.15 * x * 4 = 0.12 * y * 3
20 x = 12 y
x : y = 3 : 5
This means, 
3/8th of the Savings was invested in the first instrument.
3/8 as a percentage is 37.5%

THE ANSWER IS 37.5%

4

Q1. Veeru invested Rs 10000 at 5% simple annual interest, and exactly after two years, Joy invested Rs 8000 at 10% simple annual interest. How many years after Veeru’s investment, will their balances, i.e., principal plus accumulated interest, be equal?

Shivangi Garg 17/01/2024 3:35 pm

@neraj-naiyar Sir,

Let assume its equal after N years
Veeru’s investment after N years = 10000 + 10000 × 51005100 × N
Joy’s investment after N years = 8000 + 8000 × 1010010100 × (N – 2)
Equating both
10000 + 10000 × 51005100 × N = 8000 + 8000 × 1010010100 × (N – 2)
10000 + 500N = 8000 + 800N – 1600
3600 = 300N
N = 12

4

Q1.  A person invested a total amount of Rs 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is Rs 76000 then the amount (in Rs lakh) invested in the fixed deposit was ?

Shivangi Garg 29/01/2024 1:36 pm

@neraj-naiyar Sir,

 

29

 

29 1
4

Q1. Amala, Bina, and Gouri invest money in the ratio 3 : 4 : 5 in fixed deposits having respective annual interest rates in the ratio 6 : 5 : 4. What is their total interest income (in Rs) after a year, if Bina's interest income exceeds Amala's by Rs 250?

Madhav 06/02/2024 1:20 pm
Madhav 06/02/2024 1:27 pm
3

Q1.  Present sum of money amounts to Rs 800 in two years and to Rs 920 in three years, then the present sum of money is 

A) 420
B) 690
C) 560
D) None of the options

Neraj (Tg)Faculty 21/02/2024 11:35 am

@disha-sharma

Solution: C
Now = x
At the end of 2nd year = Rs 800
At the end of 3rd year = Rs 920
So, Interest gained in one year = 120
In two years Rs 240 was gained.
So, Present money = 800 - 240 = Rs 560

0

Q1.  Bhavani invested an amount of Rs. 13900 divided in two different schemes, A and B at the simple interest rate of 14% per annum and 11% per annum respectively if the total amount of simple interest earned in two year be Rs. 3508, what was the amount invested in Scheme B? 

a) 6400
b) 6500
c) 7200
d) 7900

Neraj (Tg)Faculty 10/06/2024 6:23 pm
0

Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

Rs. 6400

Rs. 6500

Rs. 7200

Rs. 7500

None of these

Neraj (Tg)Faculty 10/06/2024 6:20 pm
0

A man borrowed Rs.50,000 from a bank at 10% per annum, compounded annually. At the end of every year, he pays Rs.15,000 as part payment of the loan and interest. How much does he still owe to the bank after three such installments?
(a) Rs.16,900 (b) Rs.15,800 (c) Rs.15,200 (d) Rs.16,200

Neraj (Tg)Faculty 10/06/2024 6:19 pm
0

Vipul and Manish invested the sum of Rs.15000 and Rs.20000 at the rate of 20 percent p.a. and 30 percent p.a. respectively on compound interest (compounding annually). If the time period is 3 years for both, then what will be the total compound interest earned by Vipul and Manish?
(a) Rs.32480 (b)Rs. 31688 (c) Rs.29460 (d) Rs.34860

Neraj (Tg)Faculty 10/06/2024 6:18 pm