GATE Exam > GATE Questions > The compound interest compounded half yearly...
Start Learning for Free
The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:
- a)Rs. 432
- b)Rs. 420
- c)Rs. 400
- d)Rs. 444
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
The compound interest compounded half yearly on a certain sum of mone...
SI = (P × R × t)/100
View all questions of this test
A = P(1+R/100)t; Cl= A-p
Given, compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.
∴ R = 10/2 = 5%
t = 1 year = 2 half years
CI = Rs. 246
P=?
A = CI + P
⇒ A = P + 246
∴ P + 246 = P (1+(5/100))2
⇒ P + 246 = P × 1.052
⇒ 246 = 1.1025P – P
⇒ 246 = 0.1025P
⇒ P = 2400
Now, SI on the same sum for 3 years at 6% per annum.
∴ R = 7%
t = 2.5 years
SI = (2400 x 7 x 2.5)/100
⇒ SI = Rs. 420
|
Explore Courses for GATE exam
|
|
The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer?
Question Description
The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer?.
The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer?.
Solutions for The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for GATE.
Download more important topics, notes, lectures and mock test series for GATE Exam by signing up for free.
Here you can find the meaning of The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer?, a detailed solution for The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The compound interest compounded half yearly on a certain sum of money at 10% per annum for 1 year is Rs. 246.The simple interest on the same sum for 2.5 years at 7% per annum is:a)Rs. 432b)Rs. 420c)Rs. 400d)Rs. 444Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice GATE tests.
|
|
Explore Courses for GATE exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup