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Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%?
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Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he w...
Solution:
Given, Principal amount (P) = Rs. 2,00,000
Amount withdrawn after 2 years (A) = Rs. 1,00,000
Amount received at the end of 5 years (A') = Rs. 1,70,000
Time (T) = 5 years
Let the rate of interest be R%.
Calculation of Interest:
Simple Interest (SI) = A - P
SI = Rs. 1,00,000 - Rs. 2,00,000
SI = Rs. -1,00,000 (Negative value indicates that the person has withdrawn more than he had deposited)
Amount at the end of 5 years (A') = P + SI
Rs. 1,70,000 = Rs. 2,00,000 + SI
SI = Rs. 1,70,000 - Rs. 2,00,000
SI = Rs. -30,000 (Negative value indicates that the person has received less than what he had deposited)
Calculation of Rate of Interest:
SI = (P * R * T) / 100
Rs. -1,00,000 = (Rs. 2,00,000 * R * 2) / 100
R = (Rs. -1,00,000 * 100) / (Rs. 2,00,000 * 2)
R = -25% (Negative value indicates that the rate of interest is less than the rate of inflation)
Therefore, the rate of interest is not among the given options. However, it can be observed that the person has withdrawn more than he had deposited and received less than what he had deposited, indicating that the rate of interest is less than the rate of inflation. Hence, option (d) 5% could be considered as the closest answer.
Given, Principal amount (P) = Rs. 2,00,000
Amount withdrawn after 2 years (A) = Rs. 1,00,000
Amount received at the end of 5 years (A') = Rs. 1,70,000
Time (T) = 5 years
Let the rate of interest be R%.
Calculation of Interest:
Simple Interest (SI) = A - P
SI = Rs. 1,00,000 - Rs. 2,00,000
SI = Rs. -1,00,000 (Negative value indicates that the person has withdrawn more than he had deposited)
Amount at the end of 5 years (A') = P + SI
Rs. 1,70,000 = Rs. 2,00,000 + SI
SI = Rs. 1,70,000 - Rs. 2,00,000
SI = Rs. -30,000 (Negative value indicates that the person has received less than what he had deposited)
Calculation of Rate of Interest:
SI = (P * R * T) / 100
Rs. -1,00,000 = (Rs. 2,00,000 * R * 2) / 100
R = (Rs. -1,00,000 * 100) / (Rs. 2,00,000 * 2)
R = -25% (Negative value indicates that the rate of interest is less than the rate of inflation)
Therefore, the rate of interest is not among the given options. However, it can be observed that the person has withdrawn more than he had deposited and received less than what he had deposited, indicating that the rate of interest is less than the rate of inflation. Hence, option (d) 5% could be considered as the closest answer.
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Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%?
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Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%?.
Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Rohit deposited a sum of Rs.2,00,000 in a bank. After 2 years he withdraw Rs.1,00,000. At the end of 5 years he received an amount of Rs. 1,70,000. The rate of interest is : (Simple Interest) a) 10% b) 8% c) 6% d) 5%?.
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