Krishna invested some money under 20% per annum simple interest in Axis bank. At the end of one – year, he withdrew all amount from the Axis bank and invested in Bandhan bank at the rate of R % per annum under compound interest compounded annually for two years and received Rs. 57600 as total interest from the Bandhan bank. The first year’s interest at Bandhan bank was Rs. 24000.

Important for :

1

D

Following the common explanation, we getAt 40% per annum, 120x gives compound interest of 57600 in two years or Rs. 24000 in one year

CI = P | ( | 1 + | R | ) |
^{N} |
– P |

100 |

120x | ( | 1 + | 40 | ) | – 120x = 24000 |

100 |

120x × 1.4 – 120x = 24000

168x – 120x = 48x = 24000

x = | 24000 | = 500 |

48 |

The sum of money he had invested in Axis bank = 100x = 100 × 500 = Rs. 50000

Hence, option D is correct.

Let the sum of money he invested in Axis bank = 100x then at the end of one year

Amount = | 100x × 1 × 20 | + 100x= 120x |

100 |

The CI of 2 years = 57600

The CI of 1 year = 24000

Difference = 57600 – 24000 = 33600

Now, 33600 – 24000 = 9600

At R% per annum, 24000 gives compound interest of Rs. 9600

24000 × R | = 9600 |

100 |

R = 40% per annum

2

B

Following the common explanation, we getThe interest, Krishna received from Axis bank = 20x = 20 × 500 = 10,000

The interest from Bandhan bank = 57600

The required sum = 10,000 + 57600 = 67600

Hence, option B is correct.

Let the sum of money he invested in Axis bank = 100x then at the end of one year

Amount = | 100x × 1 × 20 | +100x = 120x |

100 |

The CI of 2 years = 57600

The CI of 1 year = 24000

Difference = 57600 – 24000 = 33600

Now, 33600 – 24000 = 9600

At R% per annum, 24000 gives compound interest of Rs. 9600

24000 × R | = 9600 |

100 |

R = 40% per annum

3

A

Following the common explanation, we get
P = 50000

R = 40%

1st year = 40% per annum SI

Next 2 years = 20% per annum CI

Amount at the end of 1st year i.e. received from the Axis bank = 50000 + 40% of 50000 = 70000

SI = 70000 – 50000 = 20000

From the Bandhan bank

CI = P | ( | 1 + | R | ) |
^{N} |
– P |

100 |

CI = 70000 | ( | 1 + | 20 | ) |
^{2} |
– 70000 |

100 |

CI = 30800

Total interest = 20000 + 30800 = 50800

The interest, Krishna received from Axis bank = 20x = 20 × 500 = 10,000

The interest from Bandhan bank = 57600

The required sum = 10,000 + 57600 = 67600

The required difference = 67600 – 50800 = 16800

Hence, option A is correct.

Let the sum of money he invested in Axis bank = 100x then at the end of one year

Amount = | 100x × 1 × 20 | + 100x = 120x |

100 |

The CI of 2 years = 57600

The CI of 1 year = 24000

Difference = 57600 – 24000 = 33600

Now, 33600 – 24000 = 9600

At R% per annum, 24000 gives compound interest of Rs. 9600

24000 × R | = 9600 |

100 |

R = 40% per annum

4

B

Following the common explanation, we getP = 50000

SI at the end of 3 years = | 50000 × 20 × 3 | = Rs. 30,000 |

100 |

Hence, option B is correct.

Let the sum of money he invested in Axis bank = 100x then at the end of one year

Amount = | 100x × 1 × 20 | +100x = 120x |

100 |

The CI of 2 years = 57600

The CI of 1 year = 24000

Difference = 57600 – 24000 = 33600

Now, 33600 – 24000 = 9600

At R% per annum, 24000 gives compound interest of Rs. 9600

24000 × R | = 9600 |

100 |

R = 40% per annum

5

C

Following the common explanation, we getP = 50,000

Let the interest received from the Axis bank = Rs. x then

the first year’s interest at Bandhan bank = 40% of (50000 + x) = x

20000 + 0.4x = x

0.6x = 20000

x = | 200000 | = | 100000 |

6 | 3 |

R = | SI × 100 |

P × T |

R = | (100000/3) × 100 | = | 1000 | = | 200 | % = 66 | 2 | % |

50000 × 1 | 15 | 3 | 3 |

Hence, option C is correct.

Let the sum of money he invested in Axis bank = 100x then at the end of one year

Amount = | 100x × 1 × 20 | +100x= 120x |

100 |

The CI of 2 years = 57600

The CI of 1 year = 24000

Difference = 57600 – 24000 = 33600

Now, 33600 – 24000 = 9600

At R% per annum, 24000 gives compound interest of Rs. 9600

24000 × R | = 9600 |

100 |

R = 40% per annum

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