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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%?
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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with d...
Calculation of Interest Rate
Given,
Principal amount (P) = Rs.2,00,000
Withdrawal amount after 2 years = Rs.1,00,000
Amount received after 5 years (A) = Rs.1,70,000
Step 1: Calculation of Interest Earned
Interest earned for the first 2 years = Withdrawal amount - Principal amount = 1,00,000 - 2,00,000 = -1,00,000 (Negative sign indicates the amount withdrawn)
Interest earned for the next 3 years = Amount received after 5 years - Withdrawal amount = 1,70,000 - 1,00,000 = 70,000
Total interest earned in 5 years = -1,00,000 + 70,000 = -30,000
Step 2: Calculation of Interest Rate
We can use the formula,
Simple Interest (SI) = (P*R*T)/100
where,
P = Principal amount
R = Rate of interest
T = Time period
For the first 2 years,
-1,00,000 = (2,00,000 * R * 2)/100
R = -25%
For the next 3 years,
70,000 = (1,00,000 * R * 3)/100
R = 23.33%
Step 3: Conclusion
The interest rate for the first 2 years is -25% and for the next 3 years is 23.33%. However, as the interest rate cannot be negative, we can consider the absolute value of -25%, which is 25%. Therefore, the rate of interest for the entire period is 25%.
Answer: a) 10%
Given,
Principal amount (P) = Rs.2,00,000
Withdrawal amount after 2 years = Rs.1,00,000
Amount received after 5 years (A) = Rs.1,70,000
Step 1: Calculation of Interest Earned
Interest earned for the first 2 years = Withdrawal amount - Principal amount = 1,00,000 - 2,00,000 = -1,00,000 (Negative sign indicates the amount withdrawn)
Interest earned for the next 3 years = Amount received after 5 years - Withdrawal amount = 1,70,000 - 1,00,000 = 70,000
Total interest earned in 5 years = -1,00,000 + 70,000 = -30,000
Step 2: Calculation of Interest Rate
We can use the formula,
Simple Interest (SI) = (P*R*T)/100
where,
P = Principal amount
R = Rate of interest
T = Time period
For the first 2 years,
-1,00,000 = (2,00,000 * R * 2)/100
R = -25%
For the next 3 years,
70,000 = (1,00,000 * R * 3)/100
R = 23.33%
Step 3: Conclusion
The interest rate for the first 2 years is -25% and for the next 3 years is 23.33%. However, as the interest rate cannot be negative, we can consider the absolute value of -25%, which is 25%. Therefore, the rate of interest for the entire period is 25%.
Answer: a) 10%
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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with d...
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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%?
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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: 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.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: 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.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%?.
Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: 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.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: 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.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%?.
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Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%?, a detailed solution for Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%? has been provided alongside types of Mr.vinod deposited a sum of Rs.2 00000 in bank.After 2 years he with draw Rs.1 00 000 . At the end of 5 years he received an amount of Rs.1 70 000 .The rate of interest is: a) 10% b) 8% c) 6% d) 5%? theory, EduRev gives you an
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