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A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?
- a)450
- b)500
- c)700
- d)475
Correct answer is option 'B'. Can you explain this answer?
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A sum was put at a certain rate of interest for four years. Had it bee...
Answer –b)500 Solution: x*4*(r+4)/100 – (x*4*r)/100 = 80 4xr+16x – 4xr = 8000 X = 8000/16 =500
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A sum was put at a certain rate of interest for four years. Had it bee...
Given:
- The sum was put at a certain rate of interest for four years.
- If the sum had been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more.
To find:
- The sum
Assumptions:
- The rate of interest is compounded annually.
Solution:
Let's assume the initial rate of interest is 'r'.
Step 1: Calculate the difference in interest:
The difference in interest for 4 years at the higher rate is Rs. 80. This means that the extra 4% interest for 4 years is Rs. 80.
So, we can write the equation as:
0.04 * P * 4 = 80
0.16P = 80
P = 80 / 0.16
P = Rs. 500
Therefore, the sum is Rs. 500.
Hence, option B (500) is the correct answer.
- The sum was put at a certain rate of interest for four years.
- If the sum had been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more.
To find:
- The sum
Assumptions:
- The rate of interest is compounded annually.
Solution:
Let's assume the initial rate of interest is 'r'.
Step 1: Calculate the difference in interest:
The difference in interest for 4 years at the higher rate is Rs. 80. This means that the extra 4% interest for 4 years is Rs. 80.
So, we can write the equation as:
0.04 * P * 4 = 80
0.16P = 80
P = 80 / 0.16
P = Rs. 500
Therefore, the sum is Rs. 500.
Hence, option B (500) is the correct answer.
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A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. Can you explain this answer?
Question Description
A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. 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 A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. Can you explain this answer?.
A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. 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 A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?a)450b)500c)700d)475Correct answer is option 'B'. Can you explain this answer?.
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