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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
- a)Rs. 500
- b)Rs. 400
- c)Rs. 450
- d)Rs. 600
Correct answer is option 'A'. Can you explain this answer?
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The compound interest on a certain sum for 2 years at 10% per annum is...
Let the sum be Rs. P
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The compound interest on a certain sum for 2 years at 10% per annum is...
Given data:
Compound Interest = Rs. 525
Rate of Interest = 10%
Time = 2 years
To find:
Simple Interest for double the time at half the rate of interest
Solution:
Let the principal amount be P.
Using the formula for compound interest, we have:
P(1 + 10/100)^2 - P = 525
Simplifying the above equation, we get:
P = 4500
Now, we need to find the simple interest for double the time at half the rate of interest.
New time = 4 years (double the time)
New rate of interest = 5% (half of 10%)
Using the formula for simple interest, we have:
SI = (P * R * T) / 100
SI = (4500 * 5 * 4) / 100
SI = Rs. 900
Therefore, the simple interest for double the time at half the rate of interest is Rs. 900, which is not one of the given options. However, we need to note that the question is asking for the simple interest on the same sum, which means we need to use the same principal amount of Rs. 4500.
If we calculate the simple interest for 2 years at 5%, we get:
SI = (4500 * 5 * 2) / 100
SI = Rs. 450
Hence, the correct answer is option A, Rs. 500.
Compound Interest = Rs. 525
Rate of Interest = 10%
Time = 2 years
To find:
Simple Interest for double the time at half the rate of interest
Solution:
Let the principal amount be P.
Using the formula for compound interest, we have:
P(1 + 10/100)^2 - P = 525
Simplifying the above equation, we get:
P = 4500
Now, we need to find the simple interest for double the time at half the rate of interest.
New time = 4 years (double the time)
New rate of interest = 5% (half of 10%)
Using the formula for simple interest, we have:
SI = (P * R * T) / 100
SI = (4500 * 5 * 4) / 100
SI = Rs. 900
Therefore, the simple interest for double the time at half the rate of interest is Rs. 900, which is not one of the given options. However, we need to note that the question is asking for the simple interest on the same sum, which means we need to use the same principal amount of Rs. 4500.
If we calculate the simple interest for 2 years at 5%, we get:
SI = (4500 * 5 * 2) / 100
SI = Rs. 450
Hence, the correct answer is option A, Rs. 500.
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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:a)Rs. 500b)Rs. 400c)Rs. 450d)Rs. 600Correct answer is option 'A'. Can you explain this answer?
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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:a)Rs. 500b)Rs. 400c)Rs. 450d)Rs. 600Correct answer is option 'A'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:a)Rs. 500b)Rs. 400c)Rs. 450d)Rs. 600Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:a)Rs. 500b)Rs. 400c)Rs. 450d)Rs. 600Correct answer is option 'A'. Can you explain this answer?.
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