The following table shows the details about money invested (principal) in a…
2023
The following table shows the details about money invested (principal) in a bank at a certain rate of interest for a given period of time by six different male persons A-F, alongwith with the amount received (in ₹). Some values are missing in the table (indicated as '-') that you are expected to calculate if required. Based on the data in the table, answer the questions that follow.
Person-wise Details of Money Invested
Person | Rate of Interest (%) | Time (in years) | Principal (in ₹) | Amount Received (in ₹) |
A | 6% | - | 10000 | - |
B | 6% | - | 30000 | - |
C | - | 5 | - | 25000 |
D | - | 3 | 45000 | - |
E | 8% | - | 20000 | - |
F | - | 2 | 60000 | - |
Note: Calculate simple Interest unless specified.
If the amount received by C is twice the money invested by him, then the amount he will receive after 2 years if he invests the same sum of money in compound interest for 2 years compounded half yearly, is
- A.
₹ 21,229.45
- B.
₹ 21,929.45
- C.
₹ 21,292.45
- D.
₹ 21,992.45
Attempted by 1 students.
Show answer & explanation
Correct answer: A
From the table, Person C's principal is ₹25,000 and time is 5 years. Since the amount received is twice the principal, Simple Interest equals ₹25,000. The rate of interest is calculated as (SI × 100) / (Principal × Time), which equals 20%. For compound interest over 2 years compounded half-yearly, the rate per period is 10% and periods are 4. The final amount is ₹25,000 × (1.1)^4 = ₹36,602.50.