Prashant invested Rs. 25, 000 for 2 years in bank A which offers 20% p.a. compound interest compounded annually. He also invested the same amount of money in bank B for the same time at a certain rate of simple interest. Interest received by him from bank A is twice of that received from bank B. Find the rate of interest offered by bank B?

10%
11%
15%
12%
18%

LohaHridoy

6 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : 11%

Given:

Amount invested = Rs. 25, 000

Time = 2 years

Rate of interest offered by bank A = 20%

Formula Used:

CI = P{(1 + r/100)ⁿ - 1}

SI = P × R × T/100

Calculation:

Let the rate of interest offered by bank B = r% p.a.

25000{(1 + 20/100)² - 1} = 2 × 25000 × r × 2/100

⇒ 11/25 = r/25

⇒ r = 11%

6 views Answered 2022-09-04 04:29

Related Questions

Tarun invested Rs. 10000 in a bank for 3 years which offers simple interest at the rate of 20% per annum. The interest obtained is invested on compound interest for 2 years at the rate of 10% per annum. Find the compound interest obtained.?

1 Answers 4 Views

Gurnaam invested some amount of money in a bank. He received Rs. 220 as interest after 1 year and Rs. 242 after 2 year. Find the rate of interest, which being calculated as compound interest. ?

1 Answers 4 Views

Sidhu Mose wala took a loan of Rs. 1200000 from a bank on simple intrest. Rate of interest offered by the bank was equal to the time period for which on takes the loan. If he paid Rs. 432000 as interest after x years to clear his loan. Find the time for which he took the loan.?

1 Answers 4 Views

A person invested a sum of Rs. 10000 which he invested at 5% per annum. Find the ratio between the difference of compound interest and simple interest in 2 years to the difference of compound interest and simple interest in 3 years.?

1 Answers 4 Views

M borrowed some money for 1 year at certain simple interest. But the interest rate was increased to 2% which amounted to Rs. 120. Find the principal amount. A. Rs. 4,000 B. Rs. 5,000 C. Rs. 6,000 D. Rs. 7,000?

1 Answers 4 Views

Find the sum of money invested by a man in a scheme which offers Compound Interest at 8% rate of interest per annum if Compound Interest for 2 years is Rs. 6656?

1 Answers 4 Views

Anuj invested a certain amount in a scheme for 2 years, which gives interest at the rate of 15% compounded annually. If the interest had been compounded 8 months, he would have gained Rs. 51 more. Find the certain amount invested by Anuj.?

1 Answers 6 Views

A takes Rs. 8000 at the rate of 7.5% for 2 years on simple interest, B takes Rs. 10000 at the rate of 5% for 2 years on simple interest, C takes Rs. 12000 at the rate of 8.75% for 1.5 years on simple interest and D takes Rs. 15000 at the rate of 2.5% for 2 years on simple interest from a bank. Which one will pay the highest interest to the bank ?

1 Answers 4 Views

A lent out Rs. 15000 which is 40% of Principal on simple interest for 2 years at 24%. Remaining 60% on compound interest calculated annually for the same period at the rate of interest 20% per annum. Find the total interest earned by A.?

1 Answers 4 Views

The number of books sold by a seller over a year is as follows. In which months did he sell more than the average number of books sold that year Months Number of books sold January 2,000 February 1,500 March 2,500 April 3,000 May 2,000 June 1,000 July 1,500 August 2,000 September 5,000 October 2,000 November 150 December 6,000?

1 Answers 4 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)