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Answer (Detailed Solution Below)Option 1 : Rs 1440 Free 20 Questions 20 Marks 25 Mins Given: Principal is Rs. 8000. Rate of interest is 6%. Time is 3 years. Formula: Simple Interest = (Principal × Time × Rate)/100 Calculation: According to the formula, Simple Interest = (8000 × 3 × 6)/100 ⇒ 80 × 3 × 6 ⇒ Rs. 1440 ∴ The simple interest for 3 years is Rs. 1440. Last updated on Sep 27, 2022 The Punjab State Transmission Corporation Limited (PSTCL) released the result for PSTCL JE (Junior Engineer) on 4th September 2021. The candidates can check and download their PSTCL JE Result form here. A total vacancy of 226 was there. The aspirants should go through the PSTCL JE Previous Year Paper and streamline their preparation according to the need of the exam. This is a golden opportunity for candidates who want to get into the Engineering sector in the state of Punjab. Let's discuss the concepts related to Interest and Simple Interest. Explore more from Quantitative Aptitude here. Learn now! What would be the compound interest accrued on an amount of Rs. 4320 @ 13.5 p.c.p.a. at the end of two years? (Rounded off to two digits after decimal)
Answer (Detailed Solution Below)Option 4 : Rs. 1245.13 Free SBI Clerk Prelims Full Test 1 100 Questions 100 Marks 60 Mins We know the formula for compound interest- \(\Rightarrow {\rm{CI}} = \left[ {{\rm{P}}\left\{ {{{\left( {1 + \frac{{\rm{R}}}{{100}}} \right)}^t} - 1} \right\}} \right]\) Where, CI = Compound interest P = Principal R = Rate of interest t = Time period \(\Rightarrow {\rm{Required\;CI}} = \left[ {4320\left\{ {{{\left( {1 + \frac{{13.5}}{{100}}} \right)}^2} - 1} \right\}} \right]\) = 4320 × (1.1352 - 1) = Rs. 1245.132 ≈ Rs. 1245.13 ∴ Required CI = Rs. 1245.13 Last updated on Sep 28, 2022 SBI Clerk 2022 Notification Out for 5486 Vacancies. A total of 5008 regular vacancies and 478 backlog vacancies are announced by SBI. The application window for SBI Clerk (Junior Associates) is open from 7th September to 27th September 2022 with an application fee of Rs 750 for General/EWS/OBC candidates. Graduates between the age of 20 to 28 years of age are eligible to apply. The candidates whose applications will be accepted will have to undergo the SBI Clerk selection process consisting of the Preliminary, Main Exam and language test, if applicable . Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest.
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Stop the "differentiation" in society, it is "integration" what we need. ChaZ-E In mathematics you don't understand things. You just get used to them. Johann von Neumann Placed User CommentsM4Math helped me a lot. Vipul Chavan 2 years ago Thanks m4 maths for helping to get placed in several companies. yash mittal 2 years ago What is the simple interest on a sum of ₹ 8000 at a rate of 15% pa over three years?Detailed Solution
Time is 3 years. ∴ The simple interest for 3 years is Rs. 1440.
What will be the compound interest on Rs 8000 at 15% per annum for 2 years 4 months compounded annually?Compound interest = ₹ 11109 - ₹ 8000 = ₹ 3109. Q. Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually.
What is the simple interest on Rs 8000 at 15% per annum for 2 years?11109 - 8000 = Rs. 3109.
What would be the compound interest accrued on a amount of Rs 8000 at the rate of 15% per annum in 3 years?∴ Compound interest=Rs10,580−Rs8000=Rs2,580. Was this answer helpful?
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