A sum of Rs. 37500 was invested under compound interest for 2 years at

1.	A sum of Rs. 37500 was invested under compound interest for 2 years at a rate of 12%. For how many years the same amount should be invested under Simple interest so that it fetches 2460 more interest at a rate of 8%? 1. 22. 33. 14. 4
Answer» Correct Answer - Option 4 : 4 Given: Sum = Rs. 37,500 Time = 2 years Rate = 12% at compound interest Formula: Interest after n years under compound interest = P × [1 + (r/100)]ⁿ - P Calculation: C.I after 2 years = 37500 [1 + (12/100)]² – 37500 ⇒ 47040 – 37500 = 9540 Let the time be t Interest under SI = Rs. (9540 + 2460) = Rs. 12,000 ⇒ (37500 × t × 8)/100 = 12000 T = 4 years ∴ The required time is 4 years

A sum of Rs. 37500 was invested under compound interest for 2 years at a rate of 12%. For how many years the same amount should be invested under Simple interest so that it fetches 2460 more interest at a rate of 8%? 1. 22. 33. 14. 4

Answer» Correct Answer - Option 4 : 4

Given:

Sum = Rs. 37,500

Time = 2 years

Rate = 12% at compound interest

Formula:

Interest after n years under compound interest = P × [1 + (r/100)]ⁿ - P

Calculation:

C.I after 2 years = 37500 [1 + (12/100)]² – 37500

⇒ 47040 – 37500 = 9540

Let the time be t

Interest under SI = Rs. (9540 + 2460) = Rs. 12,000

⇒ (37500 × t × 8)/100 = 12000

T = 4 years

∴ The required time is 4 years

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A sum of Rs. 37500 was invested under compound interest for 2 years at a rate of 12%. For how many years the same amount should be invested under Simple interest so that it fetches 2460 more interest at a rate of 8%? 1. 22. 33. 14. 4

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