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The simple interest on a certain sum at x% per annum for 8 years is Rs.5568 more than the
compound interest on 80% of the same sum at (x + 6)% per annum for one-fourth of the same
time period. Find the amount invested in compound interest if he invested Rs.P in simple
interest at (x + 1)% per annum for 4 years and obtained an interest equal to 60% of his
investmen?
Most Upvoted Answer
The simple interest on a certain sum at x% per annum for 8 years is Rs...
Given Data:
Let the principal amount be P
Rate of interest for simple interest = x%
Rate of interest for compound interest = (x + 6)%
Time period = 8 years
Given: Simple Interest = Compound Interest + 5568

Calculating Compound Interest:
Principal for compound interest = 80% of P = 0.8P
Time period for compound interest = 8/4 = 2 years
Compound Interest = P(1 + r/100)^t - P, where r is the rate of interest and t is the time period
Compound Interest = 0.8P(1 + (x + 6)/100)^2 - 0.8P

Calculating Simple Interest:
Principal for simple interest = P
Rate of interest = (x + 1)%
Time period = 4 years
Simple Interest = P * (x + 1) * 4/100

Solving the Equation:
From the given data, we have:
P * (x + 1) * 4/100 = 0.8P(1 + (x + 6)/100)^2 - 0.8P + 5568
Solve this equation to find the value of P

Explanation:
- We first calculate the compound interest and simple interest based on the given data
- We then set up an equation based on the given condition that the simple interest is greater than the compound interest by Rs.5568
- Solving this equation will give us the principal amount invested in compound interest
- This process helps us find the value of P, the amount invested in compound interest, which satisfies all the given conditions.
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The simple interest on a certain sum at x% per annum for 8 years is Rs.5568 more than thecompound interest on 80% of the same sum at (x + 6)% per annum for one-fourth of the sametime period. Find the amount invested in compound interest if he invested Rs.P in simpleinterest at (x + 1)% per annum for 4 years and obtained an interest equal to 60% of hisinvestmen?
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The simple interest on a certain sum at x% per annum for 8 years is Rs.5568 more than thecompound interest on 80% of the same sum at (x + 6)% per annum for one-fourth of the sametime period. Find the amount invested in compound interest if he invested Rs.P in simpleinterest at (x + 1)% per annum for 4 years and obtained an interest equal to 60% of hisinvestmen? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about The simple interest on a certain sum at x% per annum for 8 years is Rs.5568 more than thecompound interest on 80% of the same sum at (x + 6)% per annum for one-fourth of the sametime period. Find the amount invested in compound interest if he invested Rs.P in simpleinterest at (x + 1)% per annum for 4 years and obtained an interest equal to 60% of hisinvestmen? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The simple interest on a certain sum at x% per annum for 8 years is Rs.5568 more than thecompound interest on 80% of the same sum at (x + 6)% per annum for one-fourth of the sametime period. Find the amount invested in compound interest if he invested Rs.P in simpleinterest at (x + 1)% per annum for 4 years and obtained an interest equal to 60% of hisinvestmen?.
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