An amount of money becomes Tk. 1,860 at an interest rate of 8% in 3 years. How many years the money would take to become Tk. 2040 at the same interest rate?

An amount of money becomes Tk. 1,860 at an interest rate of 8% in 3 years. How many years the money would take to become Tk. 2040 at the same interest rate? Correct Answer 412

Let, principal = x  X + x*.08*3 = 1860 #1.24x = 1860 #X = 1500 Let, time = Y  #1500 + 1500*y*.08 = 2040 #120y = 540 #y = 4.5
Bissoy MCQ

Related Questions

An amount of money becomes Tk. 1,860 at an interest rate of 8% in 3 years . How many years the money would take to become Tk. 2040 at the same interest rate?
Consider the following statements
If a sum of money is lent at simple interest, then the
I - money gets doubled in 5 years if the rate of interest is $$16\frac{2}{3}$$ %
II - money gets doubled in 5 years if the rate of interest is 20%.
III - money becomes four times in 10 years if it gets doubled in 5 years.
Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to
be repaid if he is repaying the entire amount at the end of 2 years?
I. The rate of interest is 5 p.c.p.a.
II. Simple interest fetched on the same amount in one year is Rs. 600.
III. The amount borrowed is 10 times the simple interest in 2 years.
Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years? I. The rate of interest is 5 p.c.p.a. II. Simple interest fetched on the same amount in one year is Rs. 600. III. The amount borrowed is 10 times the simple interest in 2 years.
A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in 3 years. If the same amount is deposited at the same compound rate of interest, then in how many years will it become 16 times ?
Arman wanted to have Tk. 39,200 as interest after 5 years. He has invested an amount in an account for 1 year at 8% interest rate. From the 2nd year, he invested the principal amount in another account offering 10% interest for 3 years. At the beginning of the fifth year he invested the Principal amount in another account at the rate of 11%. What was the principal amount? (assume simple interest rate)
A man invested an amount at the rate of 10% p.a. on compound interest and after two years he again invested half of the initial amount. If man got Rs. 457.2 Rs. as interest after three years, find the amount received by man after three years, if he invested same amount on simple interest at rate of 15% p.a.?
Shashi had a certain amount of money. He invested $$\frac{2}{3}$$ of the total money in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers simple interest at a rate of 12% p.a. and scheme B offers compound interest ( compound annually) at a rate of 10% p.a. If the total interest obtained from both the schemes is Rs. 2750. What was the total amount invested by him in scheme A and scheme B together ? (Approximate value)
I had Rs. 10000 with me. Out of this money I lent some money to A for 2 years @ 15% simple interest. I lent the remaining money to B for an equal number of years @18% simple interest. After 2 years, I found that A had given me Rs. 360 more as interest as compared to B. The amount of money which I had lent to B must have been.
A certain sum of money becomes double of itself in 15 years at a rate of simple interest. In how many years will it become 5 times of itself at the same rate of simple interest