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Rs. 1800 is invested at 4% per annum simple interest. If the interest is added to the principal after every 5 yr, the amount will become Rs. 2448 after?1). 14 yr2). 7 yr3). 18 yr4). \(8\frac{1}{3}\) yr |
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Answer» <P>Rs. 1800 is INVESTED at 4% per annum simple interest. The interest is added to the PRINCIPAL after every 5yr. Formula of Simple interest = (P × R × T)/100 where P is the principal, R is the RATE of interest and T is the TIME period. So, the simple interest in 5 years = Rs. 1800 × 5 × (4/100) = Rs. 360. New principal amount = Rs. 1800 + 360 = Rs. 2160 So, the interest in next duration = Rs. 2448 - 2160 = Rs. 288 Let the x years needed to have interest Rs. 288. Now we can write, 2160 × x × (4/100) = 288 ⇒ x = 28800/8640 ⇒ x = 10/3 ∴ The total years needed = 5 + (10/3) = 25/3 = $(8\frac{1}{3})$ |
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