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Nidhi borrowed Rs 10000 from a bank for a period of two years at the rate of 10% per annum. From that amount, she invested Rs 3500 in another bank which offers simple interest @12.5% per annum and the remaining amount she invested into a chit fund which offers compound interest of 10% per annum. What is the profit obtained by Nidhi at the end of two years ?
  • a)
    Rs 120
  • b)
    Rs 240
  • c)
    Rs 350
  • d)
    Rs 280
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Nidhi borrowed Rs 10000 from a bank for a period of two years at the ...
Total interest that Nidhi has to pay after 2 years =Rs (10000 X 2 X 10)/100 = Rs 2000
Interest obtained by Nidhi from the bank = Rs (3500 X 2 X 12.5)/100 = Rs 875
Interest obtained by Nidhi from Chit fund = 6500(1 + 0.1)2 - 6500 = Rs 1365
So total interest obtained by Nidhi = Rs (875 + 1365) = Rs 2240
Profit = Rs (2240 - 2000) = Rs 240
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Nidhi borrowed Rs 10000 from a bank for a period of two years at the rate of 10% per annum. From that amount, she invested Rs 3500 in another bank which offers simple interest @12.5% per annum and the remaining amount she invested into a chit fund which offers compound interest of 10% per annum. What is the profit obtained by Nidhi at the end of two years ?a)Rs 120b)Rs 240c)Rs 350d)Rs 280Correct answer is option 'B'. Can you explain this answer?
Question Description
Nidhi borrowed Rs 10000 from a bank for a period of two years at the rate of 10% per annum. From that amount, she invested Rs 3500 in another bank which offers simple interest @12.5% per annum and the remaining amount she invested into a chit fund which offers compound interest of 10% per annum. What is the profit obtained by Nidhi at the end of two years ?a)Rs 120b)Rs 240c)Rs 350d)Rs 280Correct 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 Nidhi borrowed Rs 10000 from a bank for a period of two years at the rate of 10% per annum. From that amount, she invested Rs 3500 in another bank which offers simple interest @12.5% per annum and the remaining amount she invested into a chit fund which offers compound interest of 10% per annum. What is the profit obtained by Nidhi at the end of two years ?a)Rs 120b)Rs 240c)Rs 350d)Rs 280Correct 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 Nidhi borrowed Rs 10000 from a bank for a period of two years at the rate of 10% per annum. From that amount, she invested Rs 3500 in another bank which offers simple interest @12.5% per annum and the remaining amount she invested into a chit fund which offers compound interest of 10% per annum. What is the profit obtained by Nidhi at the end of two years ?a)Rs 120b)Rs 240c)Rs 350d)Rs 280Correct answer is option 'B'. Can you explain this answer?.
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