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Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500?
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Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple ...
Problem Statement: Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple interest. After every second year, he adds the interest earning to the principal. The total interest at the end of the 4th year is to be calculated.
Solution:
Given,
Principal (P) = Rs. 24500
Rate of interest (R) = 10% per annum
Time (T) = 4 years
Total interest earned after the 4th year is to be calculated.
Calculation of Simple Interest:
Simple Interest (SI) = (P x R x T) / 100
SI for the 1st and 2nd year = (24500 x 10 x 2) / 100 = Rs. 4900
Total amount after 2 years = P + SI = 24500 + 4900 = Rs. 29400
SI for the 3rd and 4th year = (29400 x 10 x 2) / 100 = Rs. 5880
Total amount after 4 years = P + SI for 1st and 2nd year + SI for 3rd and 4th year = 24500 + 4900 + 29400 + 5880 = Rs. 63680
Calculation of Total Interest:
Total interest earned = Amount after 4 years - Principal
Total interest earned = 63680 - 24500 = Rs. 39180
Therefore, the correct option is not given in the question. The total interest earned at the end of the 4th year is Rs. 39180.
Note: The options given in the question are incorrect.
Solution:
Given,
Principal (P) = Rs. 24500
Rate of interest (R) = 10% per annum
Time (T) = 4 years
Total interest earned after the 4th year is to be calculated.
Calculation of Simple Interest:
Simple Interest (SI) = (P x R x T) / 100
SI for the 1st and 2nd year = (24500 x 10 x 2) / 100 = Rs. 4900
Total amount after 2 years = P + SI = 24500 + 4900 = Rs. 29400
SI for the 3rd and 4th year = (29400 x 10 x 2) / 100 = Rs. 5880
Total amount after 4 years = P + SI for 1st and 2nd year + SI for 3rd and 4th year = 24500 + 4900 + 29400 + 5880 = Rs. 63680
Calculation of Total Interest:
Total interest earned = Amount after 4 years - Principal
Total interest earned = 63680 - 24500 = Rs. 39180
Therefore, the correct option is not given in the question. The total interest earned at the end of the 4th year is Rs. 39180.
Note: The options given in the question are incorrect.
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Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500?
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Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500?.
Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Sharma deposited Rs. 24500 at the rate of 10% per annum at simple intrest. After every second year, he adds the interst earning to the principal. The total interest at the end of 4th year is A. Rs. 6864 B. Rs. 10800 C. 10780 D. 10500?.
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