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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
- a)Rs 1550
- b)Rs 1650
- c)Rs 1750
- d)Rs 2000
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Simple interest on a certain sum of money for 3 years at 8% per annum ...
C.I. = Rs [4000 × (1+10/100)² – 4000]
= Rs (4000 × 11/10 × 11/10 – 4000)
= Rs 840
Sum = Rs [420 × 100 /3 × 8] = Rs 1750
= Rs (4000 × 11/10 × 11/10 – 4000)
= Rs 840
Sum = Rs [420 × 100 /3 × 8] = Rs 1750
Most Upvoted Answer
Simple interest on a certain sum of money for 3 years at 8% per annum ...
To solve this problem, we need to understand the concepts of simple interest and compound interest.
Simple Interest:
Simple interest is calculated using the formula:
Simple Interest = (Principal * Rate * Time) / 100
Compound Interest:
Compound interest is calculated using the formula:
Compound Interest = Principal * (1 + Rate/100)^Time - Principal
Let's solve the problem step by step:
Step 1: Let's assume the principal amount for the simple interest is 'P'.
Step 2: According to the question, the rate of interest for 3 years is 8%.
Step 3: Using the formula for simple interest, we can calculate the simple interest as:
Simple Interest = (P * 8 * 3) / 100
Step 4: Now, let's calculate the compound interest.
Step 5: According to the question, the principal amount for the compound interest is Rs 4000 and the rate of interest for 2 years is 10%.
Step 6: Using the formula for compound interest, we can calculate the compound interest as:
Compound Interest = 4000 * (1 + 10/100)^2 - 4000
Step 7: According to the question, the simple interest is half of the compound interest.
Step 8: So, we can write the equation as:
Simple Interest = (1/2) * Compound Interest
Step 9: Substitute the values of simple interest and compound interest obtained from steps 3 and 6 respectively into the equation:
(P * 8 * 3) / 100 = (1/2) * (4000 * (1 + 10/100)^2 - 4000)
Step 10: Simplify the equation:
24P/100 = (1/2) * (4400 - 4000)
24P/100 = 200
Step 11: Cross-multiply and solve for P:
24P = 200 * 100
P = (200 * 100) / 24
P = 200000 / 24
P = Rs 8333.33 (approx.)
Therefore, the sum placed on simple interest is approximately Rs 8333.33.
None of the given options match the calculated value. Therefore, the correct answer cannot be determined from the given options.
Simple Interest:
Simple interest is calculated using the formula:
Simple Interest = (Principal * Rate * Time) / 100
Compound Interest:
Compound interest is calculated using the formula:
Compound Interest = Principal * (1 + Rate/100)^Time - Principal
Let's solve the problem step by step:
Step 1: Let's assume the principal amount for the simple interest is 'P'.
Step 2: According to the question, the rate of interest for 3 years is 8%.
Step 3: Using the formula for simple interest, we can calculate the simple interest as:
Simple Interest = (P * 8 * 3) / 100
Step 4: Now, let's calculate the compound interest.
Step 5: According to the question, the principal amount for the compound interest is Rs 4000 and the rate of interest for 2 years is 10%.
Step 6: Using the formula for compound interest, we can calculate the compound interest as:
Compound Interest = 4000 * (1 + 10/100)^2 - 4000
Step 7: According to the question, the simple interest is half of the compound interest.
Step 8: So, we can write the equation as:
Simple Interest = (1/2) * Compound Interest
Step 9: Substitute the values of simple interest and compound interest obtained from steps 3 and 6 respectively into the equation:
(P * 8 * 3) / 100 = (1/2) * (4000 * (1 + 10/100)^2 - 4000)
Step 10: Simplify the equation:
24P/100 = (1/2) * (4400 - 4000)
24P/100 = 200
Step 11: Cross-multiply and solve for P:
24P = 200 * 100
P = (200 * 100) / 24
P = 200000 / 24
P = Rs 8333.33 (approx.)
Therefore, the sum placed on simple interest is approximately Rs 8333.33.
None of the given options match the calculated value. Therefore, the correct answer cannot be determined from the given options.
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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer?
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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer?.
Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer?.
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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is:a)Rs1550b)Rs 1650c)Rs 1750d)Rs 2000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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