Advertisements
Advertisements
Question
Kamala borrowed from Ratan a certain sum at a certain rate for two years simple interest. She lent this sum at the same rate to Hari for two years compound interest. At the end of two years she received Rs 210 as compound interest, but paid Rs 200 only as simple interest. Find the sum and the rate of interest.
Advertisements
Solution
Let the sum be Rs P and the rate of interest be R %.
We know that Kamla paid Rs 200 as simple interest.
\[ \therefore 200 = \frac{PR(2)}{100}\]
PR = 10, 000 . . . (1)
Also, Kamla received Rs 210 as compound interest .
\[ \therefore 210 = P(1 + \frac{R}{100} )^2 - 1\]
\[ 210(10, 000) = P( R^2 + 200R)\]
210R = `"R"^2` + 200R [from (1)]
R = 10 % p . a .
Putting the equation in (1), we get:
P = 1, 000
Thus, the required sum is Rs 1, 000 and the rate of interest is 10 %
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 8000 for 1 year at 9% per annum compound half yearly. (You could use the year by year calculation using SI formula to verify)
At what rate percent per annum will a sum of Rs 4000 yield compound interest of Rs 410 in 2 years?
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1,089 and for the third year it is Rs. 1,197.90. Calculate the rate of interest and the sum of money.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% per annum.
The simple interest on a certain sum for 3 years at 4% is Rs 600. Find the compound interest for the same sum at the same percent and in the same time.
The difference between C.I. payable annually and S.I. on Rs.50,000 for two years is Rs.125 at the same rate of interest per annum. Find the rate of interest.
The annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
