Discussion
A money lender lends Rs.2000 for six months at 20% p.a. rate. It the interest is reckoned quarterly than find the amount given after time limit.
Answer: A
\[ A = P\left(1 + \frac{R}{100}\right)^{n}, \qquad \text{CI} = A - P, \qquad \text{SI} = \frac{PRn}{100} \]
Reckoned quarterly, 20% per annum is 5% per quarter, and six months is two quarters.
\[ A = 2000 \times (1.05)^{2} = 2000 \times 1.1025 = \text{Rs. } 2205 \]
Simple interest for the same six months would give Rs. 2200; the extra Rs. 5 is the second quarter's 5% on the first quarter's Rs. 100.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development