Question : What is the rate of interest (in %), if simple interest earned on a certain sum for the 3rd year is INR 2,000 and compound interest earned in 2 years is INR 4,160?
Option 1: 8
Option 2: 10
Option 3: 12
Option 4: 6
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Correct Answer: 8
Solution : It is given that simple interest for 3rd year = INR 2000 Simple interest(SI) in first 2 years = 2000 + 2000 = INR 4,000 (since SI remains the same for the equal period at the same rate) Compound interest(CI) in 2 years = 4160 The difference in (CI – SI) in 2 years = 4160 – 4000 = INR 160 Since this difference is the interest on the interest on 1st year. 160 = $\frac{2000×r}{100}$ $\therefore r=8$% Hence, the correct answer is 8.
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Question : What is the rate of interest (in %), if the simple interest earned on a certain sum for the 3 years is Rs. 6,000 and the compound interest earned for 2 years is Rs. 4160?
Question : The compound interest (compounding annually) on a certain sum at the rate of 8% per annum for two years is INR 6,656. What would be the simple interest on the same sum at the same rate of interest for two years?
Question : The simple interest on a certain sum for 3 years at 14% p.a. is INR 4,200 less than the simple interest on the same sum for 5 years at the same rate. Find the sum.
Question : The simple interest on a certain sum at the rate of 12.5% per annum for 6 years is INR 13,500 less than the principal. Find the simple interest.
Question : What is the ratio of the simple interest earned on a certain amount at the rate of 21% per annum for 8 years to that earned on the same sum at the same rate for 21 years?
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