Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • Law
  • A sum of money is lent at a certain rate of interest at compound interest. If, instead the same amount was lent at simple interest the interest for the first two years reduces by Rs.160 and that fo

A sum of money is lent at a certain rate of interest at compound interest. If, instead the same amount was lent at simple interest the interest for the first two years reduces by Rs.160 and that for the first three years reduces by Rs.488. Find the sum

Option: 1

Rs.22000


Option: 2

Rs.46000


Option: 3

Rs.52000


Option: 4

Rs.64000 

 


Answers (1)

best_answer

B is the difference B/w 2 years of interest So B = 160
Difference B/w 3 years of C.I and S.I
= 3B+C = 488
160 x 3 + C = 8
C is calculated on 8
= rate = 8 /160 x 100 = 5%
A = 160/5 x 100 = 3200
P = 3200 / 5 x 100 
P = 64000 Rs.

 

Posted by

rishi.raj

View full answer

Similar Questions

Trending Articles/News

anam-khan

CLAT 2025 Hearing LIVE: Delhi HC seeks response from Consortium in 2 weeks; next hearing on April 7
anam-khan

CLAT PG counselling 2025 dates soon for LLM; category-wise expected cut-offs for top NLUs

Latest Question