- Find the difference between the interests earned on Rs. 15000 after two years in two different schemes one offering 12% simple interest and other offering 12% compound interest compounded annually.
Rs.180Rs.198Rs.222Rs.200Rs.216Option E
S.I. = 15000*0.12*2 = Rs.3600
C.I. = 15000*{(1+0.12)^2 – 1} = Rs.3816
Required Difference = Rs.216 - Abhi invested a certain amount of money in a scheme offering 20% compound interest for two years. Mona invested Rs.1000 more than Abhi in another scheme offering 25% simple interest for two years. Find the amount invested by Abhi if the difference in the interest earned by Abhi and Mona is Rs.1310.
Rs.12000Rs.13500Rs.14400Rs.15600Rs.18100Option B
Let the amount invested by Abhi and Mona be Rs.x and Rs.’x+1000’resp.
Interest earned by Abhi = x*{(1+0.20)^3 – 1}= Rs.0.44x
Interest earned by Mona = (x+1000)*0.25*2 = Rs.0.5x+500
Now, 0.5x+500 – 0.44x = 1310
=> x = Rs.13500 - Divide Rs. 3364 between A and B, so that A’s Share at the end of 5 years may equal to B’s share at the end of 7 years, compound interest being at 5 percent. Find B’s share
Rs.1400Rs.1800Rs.1200Rs.1000Rs.1600Option E
(A’s present share)(1+5/100)^5 = (B’s present share)(1+5/100)^7
=>(A’s present share)/( B’s present share) = 441/400
A’s present share = 441/(441+400)*3364 = Rs.1764
B’s present share = 3364 – 1764 = Rs.1600 - Sahil invested Rs. 84000 in a scheme offering simple interest for three years. Rate of interest for first year, second year and third year is 20%, 24% and 25% resp. Find the interest earned by him after three years.
Rs.55500Rs.58500Rs.57960Rs.55400Rs.56660Option C
Interest earned after three years
= 84000*(0.20+0.24+0.25) = Rs.57960 - Aman invested Rs.17000 partially in a scheme A, offering 12 compound interest compounded annually and rest in scheme B offering 15% simple interest. Find the amount invested in scheme A, if the total interest earned by him after two years is Rs.4644.
1000050000400003000020000Option A
Let the amount invested in scheme A be x.
Interest earned by scheme A = x*{(1+0.12)^2 – 1} = Rs.0.2544x
Amount invested in scheme B = Rs.(17000 – x)
Interest earned by scheme B = (17000 – x)*0.15*2 = Rs.(5100 – 0.3x)
0.2544x + 5100 – 0.3x = 4644
=> x = 10000 - Gopal invested Rs.16000 in a scheme offering 10% compound interest for three years compounded annually. Vimal invested Rs.21000 in a scheme offering 8% simple interest for three years. Find the difference in the interest earned by both of them.
Rs.280Rs.274Rs.256Rs.220Rs.200Option C
Interest earned by Gopal = 16000*{(1+0.10)^3 – 1}
= Rs.5296
Interest earned by Vimal = 21000*0.08*3 = Rs.5040
Required Difference = Rs.256 - Vikky invested Rs.27,000 partially in a scheme A offering 13% simple interest and rest in scheme B offering 10% compound interest compounded annually. The amount invested in scheme B is how much percent less/more than the amount invested in scheme A if the total interest earned by Vikky after three years is Rs.9822?
24%30%50%10%20%Option E
Let the amount invested by him in scheme A be x.
The amount invested by him in scheme B = 27000 – x
Interest earned from A = x*0.13*3 = Rs. 0.39x
Interest earned from B = (27000 – x)*{(1+0.10)^3 – 1} = Rs.8937 – 0.331x
Now, 0.39x +8937- 0.331x = 9822
=> x = 15000
Required% = (15000 – 12000)/15000*100 = 20% - Jenny 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. 5500Rs. 5000Rs. 6400Rs. 6000Rs. 6400Option E
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 – x).
[xx14x2]/100 + [(13900 – x)x11x2]/100 = 3508
=>28x – 22x = 350800 – (13900 x 22)
=> 6x = 45000 x = 7500
Sum invested in Scheme B = Rs. (13900 – 7500) = Rs. 6400 - A and B invested some amounts in schemes offering simple interest at rate of 8% and 12% per annum resp. A and B deposited their respective amounts for 4 years and 2 years resp. and the interest earned by both of them found to be same. If the amount invested by A is Rs.7000 less than the amount invested by B, find the average of the amounts invested by both of them.
Rs.26200Rs.23300Rs.21200Rs.24500Rs.22000Option D
Let the amount invested by B be x.
The amount invested by A be (x-7000)
Now, x*12%*2 = (x-7000)*8%*4
=> x = 28000
Required average = (28000+21000)/2 = Rs.24500 - Danish invested Rs. x in a scheme offering 12% simple interest for three years. Reena invested Rs. (x+3000) in a scheme offering 10% compound interest for three years. Find the value of x if the interest earned by Reena is Rs.761 more than the interest earned by Danish.
60008000700040005000Option B
Interest earned by Danish = x*0.12*3 = Rs.0.36x
Interest earned by Reena = (x+3000){(1+0.10)^3 -1} = Rs.(0.331x + 993)
Now, 0.331x + 993 – 0.36 = 761
=> x = 8000
One thing I have actually noticed is the fact that there are plenty of common myths regarding the banks intentions while talking about foreclosed. One misconception in particular is the fact that the bank desires your house. The bank wants your cash, not your home. They want the bucks they gave you along with interest. Steering clear of the bank will only draw the foreclosed final result. Thanks for your article.