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A man invested a certain sum in scheme 4 at 15% pa for 2 years and earned 1950 as simple interest. He increased his sum by and invested in another scheme 8 at 10% p.a. Compound interest for 2 years and received 1680 as compound interest. Find the value of 'r'.?
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A man invested a certain sum in scheme 4 at 15% pa for 2 years and ear...
- **Given Information**:
A man invested a certain sum in scheme 4 at 15% p.a. for 2 years and earned Rs. 1950 as simple interest. He increased his sum by 'r' and invested in another scheme 8 at 10% p.a. compound interest for 2 years and received Rs. 1680 as compound interest.
- **Calculating Simple Interest**:
Simple Interest = P * R * T / 100
1950 = P * 15 * 2 / 100
P = Rs. 6500
- **Calculating Compound Interest**:
Let the increased sum be 'r', then the total amount invested in scheme 8 = Rs. (6500 + r)
Using the compound interest formula:
1680 = (6500 + r) * (1 + 10/100)^2 - (6500 + r)
- **Solving for 'r'**:
1680 = (6500 + r) * (1.1)^2 - (6500 + r)
1680 = (6500 + r) * 1.21 - (6500 + r)
1680 = 7865 + 1.21r - 6500 - r
1680 = 1365 + 0.21r
r = 6500
- **Conclusion**:
The value of 'r' is Rs. 6500.
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A man invested a certain sum in scheme 4 at 15% pa for 2 years and earned 1950 as simple interest. He increased his sum by and invested in another scheme 8 at 10% p.a. Compound interest for 2 years and received 1680 as compound interest. Find the value of 'r'.?
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A man invested a certain sum in scheme 4 at 15% pa for 2 years and earned 1950 as simple interest. He increased his sum by and invested in another scheme 8 at 10% p.a. Compound interest for 2 years and received 1680 as compound interest. Find the value of 'r'.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A man invested a certain sum in scheme 4 at 15% pa for 2 years and earned 1950 as simple interest. He increased his sum by and invested in another scheme 8 at 10% p.a. Compound interest for 2 years and received 1680 as compound interest. Find the value of 'r'.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man invested a certain sum in scheme 4 at 15% pa for 2 years and earned 1950 as simple interest. He increased his sum by and invested in another scheme 8 at 10% p.a. Compound interest for 2 years and received 1680 as compound interest. Find the value of 'r'.?.
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