A certain sum at compound interest amounts in two years to ₹ 2809 and in three years to ₹ 2977.5

English

Gujarati

Hindi

6.Interest

medium

A certain sum at compound interest amounts in two years to ₹ $2809$ and in three years to ₹ $2977.54 .$ Find the rate of interest and the original sum (In ₹).

A

$1500$

B

$2000$

C

$2500$

D

$3000$

Solution

Difference $=2977.54-2809=₹ 168.54$

$\therefore$ Rate of interest $=\frac{168.54 \times 100}{2809}=6 \%$

Let $x$ be the amount deposited

$2809=x\left(1+\frac{6}{100}\right)^{2}$

$x=\frac{2809 \times 100^{2}}{106^{2}}=2809\left(\frac{50}{53}\right)^{2}=₹ 2500$

Standard 13

Quantitative Aptitude

Share

Similar Questions

The simple interest accrued on an amount of $Rs. 19800$ at the end of $3$ years is $Rs. 7128$. What would be the compound interest (In $Rs.$) accrued on the same amount at the same rate in the same period?

hard

An amount of ₹ $12500$ is deposited for a period of $2$ years at an interest of $4 \%$ per annum. Find the difference between simple interest and compound interest (In ₹) $10$ for the deposit.

medium

A bank offers $5 \%$ compound interest calculated on half-yearly basis. A customer deposits $Rs. 1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year, the amount (In $Rs.$) he would have gained by way of interest is

medium

A sum of money invested at compound interest amounts to ₹ $800$ in $3$ years and to ₹ $840$ in 4 years. The rate of interest (In $\%$) per annum is

medium

The sample interest on a sum of money for $3$ years is ₹ $240$ and the compound interest on the same sum, at the same rate for $2$ years is ₹ $170 .$ The rate of interest is (In $\%$)

medium