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Veer Invested X Rs. in SBI at the rate of 8% for 2 year and obtained a total simple interest of Rs. 6400. If he invested Rs. 10000 more for same period at the rate of 5% for first year and at 10% for 2nd year compound annually, then find the total compound interest obtained by Veer after 2 year.1). Rs. 60002). Rs. 50003). Rs. 77504). Rs. 7000 |
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Answer» PRINCIPAL = Rs. X Rate of interest = 8% Time = 2 years According to PROBLEM, ⇒ X × 8 × 2/100 = 6400 ⇒ 0.16X = 6400 ⇒ X = 40000 In case of compound interest in 1st YEAR, Principal = Rs. 40000 + 10000 = Rs. 50000 Rate of interest = 5% ∴ Amount = 50000(1 + 5/100) = Rs. 52500 In case of 2nd year, Principal = Rs. 52500 Rate of interest = 10% ∴ Amount = 52500(1 + 10/100) = Rs. 57750 ∴ Total compound interest obtained = Rs. (57750 - 5000) = Rs. 7750 |
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