(B) The amount after the first year is $x \times (1 + \frac{10}{100}) = x \times \frac{110}{100}$.After the second year,the amount becomes $(x \times

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

(B) The amount after the first year is $x \times (1 + \frac{10}{100}) = x \times \frac{110}{100}$.After the second year,the amount becomes $(x \times \frac{110}{100}) \times (1 + \frac{15}{100}) = x \times \frac{110}{100} \times \frac{115}{100}$.Given that the final amount is ₹ $20,240$,we have:$x \times \frac{110}{100} \times \frac{115}{100} = 20240$.$x \times 1.1 \times 1.15 = 20240$.$x \times 1.265 = 20240$.$x = \frac{20240}{1.265} = 16000$.Therefore,the principal amount $x$ is ₹ $16000$.

Competitive Quantitative Aptitude Interest Simple Interest

Medium

Albert invested an amount of $x$ rupees in a fixed deposit scheme offering $10 \%$ per annum for the $1^{\text{st}}$ year and $15 \%$ per annum for the $2^{\text{nd}}$ year and received an amount of ₹ $20,240$ after two years. What is $x$ (in ₹)?

A
$15000$
B
$16000$
C
$14000$
D
$18000$

Explore More

Browse All

Question Bank

All Subjects

Competitive Questions

Competitive

Quantitative Aptitude Questions

Chapter

Interest

Subtopic

Simple Interest

$A$ certain sum becomes ₹ $1020$ in $5$ years and ₹ $1200$ in $8$ years at simple interest. What is the value of Principal (in ₹)?

Easy

View Solution

If the interest on ₹ $12000$ is more than the interest on ₹ $10000$ by ₹ $500$ in $3$ $years$,the rate percent per annum is:

Medium

View Solution

The rate of interest on a sum is $4 \%$ per annum for the first $2$ years,$6 \%$ per annum for the next $4$ years,and $8 \%$ per annum for the period beyond $6$ years. If the simple interest accrued by the sum for a total period of $9$ years is ₹ $1120$,find the sum. (In ₹)

Medium

View Solution

$A$ person invests $Rs. 2,00,000$ at $12 \%$ $p.a.$ for $1$ $year$. If he invests $Rs. 500$ more,he is eligible for $13 \%$ $p.a.$ interest. How much more interest (in $Rs.$) would he receive if he accepted the second option?

Medium

View Solution

In what time will ₹ $8100$ produce the same income at $3 \%$ as ₹ $225$ in $4$ years at $3 \%$?

Medium

View Solution

Vedclass Products

For Students

Vedclass Test Series

Mock tests in real JEE/NEET style with performance analysis. 5-day free trial.

Start Free Trial

For Teachers

Exam Paper Generator

Generate Set A/B/C/D exam papers from 7.5L+ questions in 2 minutes. 3 chapters free.

Try Free

For Institutes

Online Exam Module

Live online exams with unlimited students, 360° analytics & white-label branding.

See Demo

Albert invested an amount of $x$ rupees in a fixed deposit scheme offering $10 \%$ per annum for the $1^{\text{st}}$ year and $15 \%$ per annum for the $2^{\text{nd}}$ year and received an amount of ₹ $20,240$ after two years. What is $x$ (in ₹)?

Similar Questions

$A$ certain sum becomes ₹ $1020$ in $5$ years and ₹ $1200$ in $8$ years at simple interest. What is the value of Principal (in ₹)?

If the interest on ₹ $12000$ is more than the interest on ₹ $10000$ by ₹ $500$ in $3$ $years$,the rate percent per annum is:

The rate of interest on a sum is $4 \%$ per annum for the first $2$ years,$6 \%$ per annum for the next $4$ years,and $8 \%$ per annum for the period beyond $6$ years. If the simple interest accrued by the sum for a total period of $9$ years is ₹ $1120$,find the sum. (In ₹)

$A$ person invests $Rs. 2,00,000$ at $12 \%$ $p.a.$ for $1$ $year$. If he invests $Rs. 500$ more,he is eligible for $13 \%$ $p.a.$ interest. How much more interest (in $Rs.$) would he receive if he accepted the second option?

In what time will ₹ $8100$ produce the same income at $3 \%$ as ₹ $225$ in $4$ years at $3 \%$?

Vedclass Test Series

Exam Paper Generator

Online Exam Module