Subject
Quantitative Aptitude
Topic
Interest
Annie invested a certain sum of money in a bank that paid simple interest. The amount grew to Tk. 240 at the end of 2 years. She waited for another 3 years and got a final amount of Tk. What was the principal amount that she invested at the beginning?
Annie invested a certain sum of money in a bank that paid simple interest. The amount grew to Tk. 240 at the end of 2 years. She waited for another 3 years and got a final amount of Tk. What was the principal amount that she invested at the beginning?
ক)
200খ)
150গ)
210ঘ)
175Explanation
The sum grew to 240 at the end of 2 years. At the end of another 3 years, the sum grew to 300. i.e. in 3 years, the sum grew by 60. Therefore, each year, it grew by 20. Sum at the end of 2 years = 240 Sum grew by 20 each year. Hence, in the first 2 years, sum grew by 2 * 20 = 40. Therefore, sum at the beginning of the period = Sum at the end of 2 years - 40 = 240 - 40 = 200.Related 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 :)