Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
51 views
in Mathematics by (240k points)
closed by
The simple interest on an amount invested at 9% per annum for 6 years is double than the compound interest on Rs. 26000 for 3 years at 10% per annum. Find the (approx.) amount invested under simple interest.
1. Rs. 30760
2. Rs. 33764
3. Rs. 32980
4. Rs. 31874

1 Answer

0 votes
by (238k points)
selected by
 
Best answer
Correct Answer - Option 4 : Rs. 31874

Given:

The simple interest on an amount invested at 9% per annum for 6 years = double than the compound interest on Rs. 26000 for 3 years at 10% per annum.

Formula used:

CI = P [1 + (r/100)]n – P, when the rate of interest is r and the amount is invested for n years.

SI = (Principal × rate × time)/100

Calculation:

S.I = (P × 6 × 9)/100 = 27P/50

CI = 26000(1 + 10/100)3 – 26000

⇒ Rs. (34606 – 26000) = 8606

Now, according to the question,

27P/50 = 2(8606)

P = Rs. 31,874

∴ The amount invested under simple interest is Rs. 31,874

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...