1. A sum of Rs 4000 becomes Rs 5800 in 3 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 2 years?
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- By: anil on 05 May 2019 02.03 amPrincipal sum = Rs. 4000 and time period = 3 years => Amount after simple interest = Rs. 5800 Thus, simple interest = Rs. (5800-4000) = Rs. 1800 Let rate of interest = $$r\%$$ => Simple interest = $$frac{P imes R imes T}{100}$$ => $$frac{4000 imes r imes3}{100}=1800$$ => $$120r=1800$$ => $$r=frac{1800}{120}=15\%$$ $$ herefore$$ Amount under compound interest = $$P(1+frac{R}{100})^T$$ = $$4000(1+frac{15}{100})^2$$ = $$4000(1+frac{3}{20})^2=4000(frac{23}{20})^2$$ = $$4000 imesfrac{529}{400}$$ = $$10 imes529=Rs.$$ $$5290$$ => Ans - (C)
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