Subject
Quantitative Aptitude
Topic
Interest
Aman invested money at a certain rate of simple interest for a period of four years. Had he invested the same sum for a period of six years the total interest earned by him would have been fifty percent more than the earlier interest amount. What was the rate of interest per cent per annum?
Aman invested money at a certain rate of simple interest for a period of four years. Had he invested the same sum for a period of six years the total interest earned by him would have been fifty percent more than the earlier interest amount. What was the rate of interest per cent per annum?
ক)
6.25খ)
8গ)
5ঘ)
10ঙ)
Cannot be determinedExplanation
Formula: SI = (P × r × t)/100 Where, SI = Simple interest, P = principal amount, r = rate%, t = time in years Given, Aman invested money at a certain rate of simple interest for a period of four years. ∴ SI = (P × r × 4)/100 = Pr/25 If he had invested the same amount for 6 years, SI = (P × r × 6)/100 = 3Pr/50 We observe that Hence, this is an identity. In other words, for any values of P and r, the interest earned after 6 years will be 50% more than the interest earned after 4 years. ∴ rate of interest or principal amount cannot be determined with the given informationRelated questions
An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes-If an investor earns interest of Tk. 1 per day at an interest rate of 4(1/18)% per annum, what will be his total investment?What would be the compound interest obtained on an amount of Tk.6875 at the rate of 8% p.a. after two years?Mr. Khan invested an amount of Tk. 13,900 divided into two different schemes A and B at a simple interest rate of 14% per annum and 11% per annum respectively. If the total amount of simple interest earned in 2 years be Tk. 3,508, what was the amount invested in Scheme B?A sum of money is borrowed and paid back in two annual instalments of tk. 882 each allowing 5% compound interst. The sum borrowed was:Ms. Champa borrowed Tk. 240, interest free, from her elder brother to pay for her college education. If she pays back 5% of the amount quarterly, and has already paid Tk. 42, for how many month has she been paying back her loan?In what time will Tk.4200 amount to Tk.88 at 16% compound interest payable half-yearly?If the compound interest on a sum for 2 years at 5% per annum is Tk. 510, the simple interest on the same sum at the same rate for the same period of time is:(বার্ষিক 5% হারে 2 বছরের জন্য যৌগিক সুদের টাকা হয় 510, একই সময় একই সময়ের জন্য একই হারে সাধারণ সুদের পরিমাণ হয় :)