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Two different finance companies declare fixed annual rate of interest on the amounts investewith them by investors. The rate of interest offered by these companies may differ from yearto year depending on the variation in the economy of the country and the banks rate ofinterest. The annual rate of interest offered by the two Companies P and Q over the years isshown by the line graph provided below.
Annual Rate of Interest Offered by Two Finance Companies Over the Years.
Q. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?
  • a)
    Rs 19,000 
  • b)
    Rs.14, 250
  • c)
    Rs.11, 750 
  • d)
    Rs. 9,500
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Two different finance companies declare fixed annual rate of interest ...
DIFFERENCE = Rs. [(10% of 4.75) - (8% of 4.75)]
= Rs. (2% of 4.75) lakhs
= Rs. 0.095 lakhs
= Rs. 9500.
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Two different finance companies declare fixed annual rate of interest on the amounts investewith them by investors. The rate of interest offered by these companies may differ from yearto year depending on the variation in the economy of the country and the banks rate ofinterest. The annual rate of interest offered by the two Companies P and Q over the years isshown by the line graph provided below.Annual Rate of Interest Offered by Two Finance Companies Over the Years.Q. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?a)Rs 19,000b)Rs.14, 250c)Rs.11, 750d)Rs. 9,500e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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Two different finance companies declare fixed annual rate of interest on the amounts investewith them by investors. The rate of interest offered by these companies may differ from yearto year depending on the variation in the economy of the country and the banks rate ofinterest. The annual rate of interest offered by the two Companies P and Q over the years isshown by the line graph provided below.Annual Rate of Interest Offered by Two Finance Companies Over the Years.Q. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?a)Rs 19,000b)Rs.14, 250c)Rs.11, 750d)Rs. 9,500e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Two different finance companies declare fixed annual rate of interest on the amounts investewith them by investors. The rate of interest offered by these companies may differ from yearto year depending on the variation in the economy of the country and the banks rate ofinterest. The annual rate of interest offered by the two Companies P and Q over the years isshown by the line graph provided below.Annual Rate of Interest Offered by Two Finance Companies Over the Years.Q. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?a)Rs 19,000b)Rs.14, 250c)Rs.11, 750d)Rs. 9,500e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Two different finance companies declare fixed annual rate of interest on the amounts investewith them by investors. The rate of interest offered by these companies may differ from yearto year depending on the variation in the economy of the country and the banks rate ofinterest. The annual rate of interest offered by the two Companies P and Q over the years isshown by the line graph provided below.Annual Rate of Interest Offered by Two Finance Companies Over the Years.Q. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?a)Rs 19,000b)Rs.14, 250c)Rs.11, 750d)Rs. 9,500e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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