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A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?
  • a)
    42%
  • b)
    142%
  • c)
    242%
  • d)
    150%
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A certain amount which was loaned on simple interest doubled in 10 yea...
The amount doubled in 10 years. So, the interest = principle.
So, rt/100 = 1
r = 10% pa
Now compound interest = ?
2P(1 + 1.1)2 = 2P x 1.21 = 2.42P
Total rise is P to 2.42P = rise of 142%
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A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?a)42%b)142%c)242%d)150%Correct answer is option 'B'. Can you explain this answer?
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A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?a)42%b)142%c)242%d)150%Correct answer is option 'B'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?a)42%b)142%c)242%d)150%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?a)42%b)142%c)242%d)150%Correct answer is option 'B'. Can you explain this answer?.
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