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A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?
- a)Rs. 6814
- b)Rs. 6904
- c)Rs. 6804
- d)Rs. 6808
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded...
Given:
- Principal amount = Rs. 7776
- Rate of interest = 20% p.a.
- Time period = 2 years
To find:
- Sum of interests received
Solution:
Case 1: Compound Interest at 20% p.a. for 2 years
Using the formula for compound interest:
Amount = Principal * (1 + Rate/100)^Time
Amount = 7776 * (1 + 20/100)^2
= 7776 * (1 + 0.2)^2
= 7776 * (1.2)^2
= 7776 * 1.44
= 11199.84
Interest received = Amount - Principal
= 11199.84 - 7776
= 3423.84
Case 2: Compound Interest at 10% p.a. for 2 years
Using the same formula for compound interest:
Amount = Principal * (1 + Rate/100)^Time
Amount = 7776 * (1 + 10/100)^2
= 7776 * (1 + 0.1)^2
= 7776 * (1.1)^2
= 7776 * 1.21
= 9415.96
Interest received = Amount - Principal
= 9415.96 - 7776
= 1639.96
Case 3: Simple Interest at 7% p.a. for 5 years
Using the formula for simple interest:
Interest = Principal * Rate * Time
Interest = 7776 * 7/100 * 5
= 2719.20
Sum of Interests Received:
Sum of interests received = Interest (Case 1) + Interest (Case 2) + Interest (Case 3)
= 3423.84 + 1639.96 + 2719.20
= 7776
Therefore, the sum of interests received is Rs. 7776. Hence, option D is the correct answer.
- Principal amount = Rs. 7776
- Rate of interest = 20% p.a.
- Time period = 2 years
To find:
- Sum of interests received
Solution:
Case 1: Compound Interest at 20% p.a. for 2 years
Using the formula for compound interest:
Amount = Principal * (1 + Rate/100)^Time
Amount = 7776 * (1 + 20/100)^2
= 7776 * (1 + 0.2)^2
= 7776 * (1.2)^2
= 7776 * 1.44
= 11199.84
Interest received = Amount - Principal
= 11199.84 - 7776
= 3423.84
Case 2: Compound Interest at 10% p.a. for 2 years
Using the same formula for compound interest:
Amount = Principal * (1 + Rate/100)^Time
Amount = 7776 * (1 + 10/100)^2
= 7776 * (1 + 0.1)^2
= 7776 * (1.1)^2
= 7776 * 1.21
= 9415.96
Interest received = Amount - Principal
= 9415.96 - 7776
= 1639.96
Case 3: Simple Interest at 7% p.a. for 5 years
Using the formula for simple interest:
Interest = Principal * Rate * Time
Interest = 7776 * 7/100 * 5
= 2719.20
Sum of Interests Received:
Sum of interests received = Interest (Case 1) + Interest (Case 2) + Interest (Case 3)
= 3423.84 + 1639.96 + 2719.20
= 7776
Therefore, the sum of interests received is Rs. 7776. Hence, option D is the correct answer.
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Community Answer
A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded...
Let the amount invested = Rs. P
Amount = Rs. 7776
Rate of interest = 20% p.a.
Time = 2 years
According to question,
7776 = P [(1 + 20%)²]
Thus, P = Rs. 5400
Rs. 5400 is invested at 10% p.a. for 2 years at compound interest
So, compound interest = Rs. 1134
Thrice of Rs. 5400 is invested at7% p.a. for 5 years at simple interest
So, principle = Rs. 16200
Thus, simple interest = Rs. 5670
Sum of interest received = 1134 + 5670 = Rs. 6804
Hence, answer is option C
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A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of A sum amounts to Rs. 7776 at 20% p.a. for 2 years,if it is compounded annually. If the same sum is invested at 10% p.a. compound interest for the same time periodand thrice of thesumis invested at 7% p.a.simple interest for 5 years, then find the sum of interests received?a)Rs. 6814b)Rs. 6904c)Rs. 6804d)Rs. 6808e)None of theseCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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