Question

If a had invested his sum at simple interest for 3 yr at the rate of r% p.A. Instead in scheme s1 and b has invested his sum at compound interest at (r + 5%) p.A. For 1 year and difference in interest obtained is 30,000 then find value of r%.

Answer 1

Answer:

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Answer 2

Answer:

The correct answer is r% = 15%

Step-by-step explanation:

For A,

Invested amount = 80000

Interest rate = r%

Time = 3 years

For B,

Invested amount = 30000

Interest rate = (r+5)%

Time = 1 year

Difference in interest = 30000

(80000×r×3)/100 - [{30000×(r+5)}/100]=30000

⇒ 2400r-300r-1500=30000

⇒8r-r-5=100

⇒r=15

The interest rate = r%=15%