Quant Exam > Quant Questions > The difference between the total simple inter...
Start Learning for Free
The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?
- a)9,300
- b)7600
- c)12000
- d)Data inadequate
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
The difference between the total simple interest and the total compoun...
Difference = Pr2 /(100)2
= (350×100×100)/(P×r2)
P is not given
= (350×100×100)/(P×r2)
P is not given
Most Upvoted Answer
The difference between the total simple interest and the total compoun...
Given:
- The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350.
To find:
- The rate of interest per cent per annum.
Assumption:
- Let the principal amount be P.
Formula:
- Simple Interest (SI) = P * (rate/100) * time
- Compound Interest (CI) = P * (1 + rate/100)^time - P
Calculation:
Let's assume the rate of interest per annum is R%.
After two years, the total Simple Interest (SI) would be:
SI = P * (R/100) * 2
The total Compound Interest (CI) would be:
CI = P * (1 + R/100)^2 - P
According to the given condition, the difference between SI and CI is Rs. 350:
SI - CI = 350
Substituting the values of SI and CI:
P * (R/100) * 2 - [P * (1 + R/100)^2 - P] = 350
Simplifying the equation:
2PR/100 - [(1 + R/100)^2 - 1] * P = 350
2PR/100 - (1 + 2R/100 + R^2/10000 - 1) * P = 350
2PR/100 - (2R/100 + R^2/10000) * P = 350
2PR - 2RP - R^2P/100 = 35000
2PR - 2RP - R^2P = 35000 * 100
2PR - 2RP - R^2P = 3500000
Factoring out common terms:
P (2R - 2R - R^2) = 3500000
P (-R^2) = 3500000
R^2 = -3500000/P
Since the interest rate cannot be negative, it is not possible to determine the exact rate of interest per cent per annum. Therefore, the data provided is inadequate to determine the rate of interest. Hence, the correct answer is option D.
- The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350.
To find:
- The rate of interest per cent per annum.
Assumption:
- Let the principal amount be P.
Formula:
- Simple Interest (SI) = P * (rate/100) * time
- Compound Interest (CI) = P * (1 + rate/100)^time - P
Calculation:
Let's assume the rate of interest per annum is R%.
After two years, the total Simple Interest (SI) would be:
SI = P * (R/100) * 2
The total Compound Interest (CI) would be:
CI = P * (1 + R/100)^2 - P
According to the given condition, the difference between SI and CI is Rs. 350:
SI - CI = 350
Substituting the values of SI and CI:
P * (R/100) * 2 - [P * (1 + R/100)^2 - P] = 350
Simplifying the equation:
2PR/100 - [(1 + R/100)^2 - 1] * P = 350
2PR/100 - (1 + 2R/100 + R^2/10000 - 1) * P = 350
2PR/100 - (2R/100 + R^2/10000) * P = 350
2PR - 2RP - R^2P/100 = 35000
2PR - 2RP - R^2P = 35000 * 100
2PR - 2RP - R^2P = 3500000
Factoring out common terms:
P (2R - 2R - R^2) = 3500000
P (-R^2) = 3500000
R^2 = -3500000/P
Since the interest rate cannot be negative, it is not possible to determine the exact rate of interest per cent per annum. Therefore, the data provided is inadequate to determine the rate of interest. Hence, the correct answer is option D.
Free Test
FREE
| Start Free Test |
Community Answer
The difference between the total simple interest and the total compoun...
Difference = Pr2 /(100)2
= (350×100×100)/(P×r2)
P is not given
= (350×100×100)/(P×r2)
P is not given
|
Explore Courses for Quant exam
|
|
The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer?
Question Description
The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. 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 difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. 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 difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer?.
The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. 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 difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. 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 difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Solutions for The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?a)9,300b)7600c)12000d)Data inadequatee)None of theseCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Quant tests.
|
|
Explore Courses for Quant exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup