Question

1) 44. Mayank has deposited a certain amount in the bank to earn compound inte the rate of 10% per annum. The difference in the interests on the amounts in the third and in the second year is Rs 12,100. What amount has Mayank deposited?
1) Rs 1.10 lakhs 2) Rs 99,000 3) Rs 1 lakh 4) Rs 90,000 5) Rs. 10 lakhs ​

Answer 1

Rs 1 lakh

Step by step

Interest for two years will be 10 + 10 + 10 x 10 / 100 = 21%

So interest for 3 years will be 21 + 10 + 21 x 10/100 = 33.1$

So 33.1-21 = 12.1% of a = 12,100

0.121 x a = 12,100

A = 12,100 / 0.121

A = Rs 1,00,000

Mayank has deposited Rs one lakh