Question

Rajeev invested 750000 in a fund which gives a 16% annual interest rate. In how many years will this sum become 70000?​

Answer 1

$\rm\red{Given:-}$

• Invested = 750000

• Annual interest = 16%

$\rm\red{find:-}$

• How many years will this sum become 70000?

$\rm\red{Solution:-}$

First,

$\rm\dashrightarrow{1 \: year = 120000}$

$\rm\dashrightarrow{2 \: year = 240000}$

$\rm\dashrightarrow{3 \: year = 360000}$

$\rm\dashrightarrow{4 \: year = 480000}$

$\rm\dashrightarrow{5 \: year = 600000}$

$\rm\longmapsto{ When \: will \: we \: receive \: 700000 \: ?}$

• Interest received in 1 year = 120000.

• Interest received in 1 months = 10000

$\rm\longmapsto{( Total \: interest \: 5 )+ \: (Received \: in \: 10 \: months)}$

• 600000 + ( 10,000 × 10 )

• 600000 + ( 1,00,000)

• 7,00,000

So, the total interest in 5 year 10 months is 7,00,000.

Learn more :

$\begin{gathered}\end{gathered}\begin{gathered}\begin{gathered}\begin{gathered}\begin{gathered}\small\bf\dag \: {\underline{More \: Formulae}} \\ \small\boxed{ \begin{array}{cc} \bigstar \: \sf{Gain = S.P - C.P} \\ \\ \bigstar \:\sf{Loss = C.P - S.P} \\ \\ \bigstar \: \sf{Gain \: \% = \Bigg( \dfrac{Gain}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{loss \: \% = \Bigg( \dfrac{loss}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{S.P = \dfrac{100+Gain\%}{100} \times C.P} \\ \\ \bigstar \: \sf{ C.P =\dfrac{100}{100+Gain\%} \times S.P} \\ \\\bigstar \: \sf{ S.P = \dfrac{100 - loss\%}{100} \times C.P} \\ \\ \bigstar \: \sf{ C.P =\dfrac{100}{100 - loss\%} \times S.P}\end{array} }\end{gathered}\end{gathered}\end{gathered}\end{gathered}$

@Shivam