| A sum of money lent at compound interest for 2 yr at 20% per annum would fetch Rs. 482 more, if the interest was payable half-yearly than if it was payable annually. The sum is |
A) Rs. 10000
B) Rs. 20000
C) Rs. 40000
D) Rs. 50000
Correct Answer: B
Solution :
| Let the sum be Rs. x. |
| Then, CI when compounded half-yearly |
| \[=\left[ x\times {{\left( 1+\frac{10}{100} \right)}^{4}}-x \right]=\frac{4641}{10000}x\] |
| CI when compounded annually |
| \[=\left[ x\times {{\left( 1+\frac{20}{100} \right)}^{2}}-x \right]=\frac{11}{25}x\] |
| \[\therefore \] \[\frac{4641}{10000}x-\frac{11}{25}x=482\] |
| \[\Rightarrow \] \[x=\frac{482\times 10000}{241}=Rs.\,20000\] |
You need to login to perform this action.
You will be redirected in
3 sec
