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A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?
- a)4.33%
- b)6.45%
- c)3.33%
- d)7.33%
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
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A depositsRs. 20,000 in a private company at the rate of 16% compounde...
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A depositsRs. 20,000 in a private company at the rate of 16% compounde...
Given:
A deposits Rs. 20,000 in a private company at the rate of 16% compounded annually.
B deposits an equal sum in PNB at the rate of 15% compounded half-yearly.
Both deposit their money for 3/2 years only.
To find:
The interest A will earn is how much percent more or less than the interest earned by B.
Solution:
Step 1: Calculate the interest earned by A.
Given that A deposits Rs. 20,000 in a private company at the rate of 16% compounded annually for 3/2 years.
The formula to calculate the compound interest is:
A = P(1 + r/n)^(nt)
Where,
A = Total amount including principal and interest
P = Principal amount (initial deposit)
r = Annual interest rate (in decimal form)
n = Number of times interest is compounded per year
t = Number of years
Using the given values, we can calculate the interest earned by A as follows:
P = Rs. 20,000
r = 16% = 0.16
n = 1 (compounded annually)
t = 3/2 years
A = 20000(1 + 0.16/1)^(1*(3/2))
A = 20000(1 + 0.16)^(3/2)
A = 20000(1.16)^(3/2)
A ≈ 20000(1.3804)
A ≈ Rs. 27,608
The interest earned by A = A - P = Rs. 27,608 - Rs. 20,000 = Rs. 7,608
Step 2: Calculate the interest earned by B.
Given that B deposits an equal sum in PNB at the rate of 15% compounded half-yearly for 3/2 years.
The formula to calculate the compound interest is the same as in step 1, but with some changes:
P = Rs. 20,000
r = 15% = 0.15
n = 2 (compounded half-yearly)
t = 3/2 years
Using the given values, we can calculate the interest earned by B as follows:
A = 20000(1 + 0.15/2)^(2*(3/2))
A = 20000(1 + 0.15/2)^(3)
A = 20000(1 + 0.075)^(3)
A ≈ 20000(1.075)^(3)
A ≈ Rs. 23,068.75
The interest earned by B = A - P = Rs. 23,068.75 - Rs. 20,000 = Rs. 3,068.75
Step 3: Calculate the percentage difference in interest earned by A and B.
Percentage difference = (Difference / Interest earned by B) * 100
Difference = Interest earned by A - Interest earned by B = Rs. 7,608 - Rs. 3,068.75 = Rs. 4,539.25
Percentage difference = (4539.25 / 3068.75) * 100 ≈ 147.89%
Therefore, the
A deposits Rs. 20,000 in a private company at the rate of 16% compounded annually.
B deposits an equal sum in PNB at the rate of 15% compounded half-yearly.
Both deposit their money for 3/2 years only.
To find:
The interest A will earn is how much percent more or less than the interest earned by B.
Solution:
Step 1: Calculate the interest earned by A.
Given that A deposits Rs. 20,000 in a private company at the rate of 16% compounded annually for 3/2 years.
The formula to calculate the compound interest is:
A = P(1 + r/n)^(nt)
Where,
A = Total amount including principal and interest
P = Principal amount (initial deposit)
r = Annual interest rate (in decimal form)
n = Number of times interest is compounded per year
t = Number of years
Using the given values, we can calculate the interest earned by A as follows:
P = Rs. 20,000
r = 16% = 0.16
n = 1 (compounded annually)
t = 3/2 years
A = 20000(1 + 0.16/1)^(1*(3/2))
A = 20000(1 + 0.16)^(3/2)
A = 20000(1.16)^(3/2)
A ≈ 20000(1.3804)
A ≈ Rs. 27,608
The interest earned by A = A - P = Rs. 27,608 - Rs. 20,000 = Rs. 7,608
Step 2: Calculate the interest earned by B.
Given that B deposits an equal sum in PNB at the rate of 15% compounded half-yearly for 3/2 years.
The formula to calculate the compound interest is the same as in step 1, but with some changes:
P = Rs. 20,000
r = 15% = 0.15
n = 2 (compounded half-yearly)
t = 3/2 years
Using the given values, we can calculate the interest earned by B as follows:
A = 20000(1 + 0.15/2)^(2*(3/2))
A = 20000(1 + 0.15/2)^(3)
A = 20000(1 + 0.075)^(3)
A ≈ 20000(1.075)^(3)
A ≈ Rs. 23,068.75
The interest earned by B = A - P = Rs. 23,068.75 - Rs. 20,000 = Rs. 3,068.75
Step 3: Calculate the percentage difference in interest earned by A and B.
Percentage difference = (Difference / Interest earned by B) * 100
Difference = Interest earned by A - Interest earned by B = Rs. 7,608 - Rs. 3,068.75 = Rs. 4,539.25
Percentage difference = (4539.25 / 3068.75) * 100 ≈ 147.89%
Therefore, the
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A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect answer is option 'A'. Can you explain this answer?
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A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect 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 A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect 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 A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect answer is option 'A'. Can you explain this answer?.
A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect 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 A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect 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 A depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?a)4.33%b)6.45%c)3.33%d)7.33%e)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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