InterviewSolution
Saved Bookmarks
| 1. |
1). Rs. 75002). Rs. 84003). Rs. 70004). Rs. 7400 |
|
Answer» P = RS. 36000, r = 16.67% = 1/6 and t = 1 year 73 DAYS Interest GENERATED in 1 year = 36000(1 + 1/6) – 36000 = Rs. 6000 Interest generated in 2nd year = Interest on (SUM + interest of 1st year) ⇒ Interest on Rs. 42000 ⇒ 42000(1 + 1/6) – 42000 = Rs. 7000 But in 2nd year, we need to calculate the interest for 73 days: ∴ Interest for 73 days = 7000 × 73/365 = Rs. 1400 ∴ Total interest = 6000 + 1400 = Rs. 7400 |
|