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Standard IX

Mathematics

Compound Interest

Q. Shakil inv...

Question

Q. Shakil invests a certain amount of money in banks A and B. Bank A offers simple interest at 9% p.a. And Bank B offers 8% compound interest p.a. The interest accrued on the amount invested in bank A in 3 years is 4590 and the total investment is 44000. What is the interest accrued on the amount invested in bank B for the same period of time?

7012.22

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7290

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21415.04

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6480

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Solution

The correct option is A 7012.22
The interest accrued on investment in Bank
$A = 3 \times (\frac{9}{100}) \times x = 4590 x = \frac{4590}{024} = 17000$
Amount invested in Bank B $44000 - 17000 = 27000 Interest = 27000 (1.08)^{3} - 27000 = 7012.22$

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The correct option is A 7012.22The interest accrued on investment in Bank A=3×(9100)×x=4590x=4590024=17000 Amount invested in Bank B 44000−17000=27000Interest=27000(1.08)3−27000=7012.22

The correct option is A 7012.22
The interest accrued on investment in Bank
$A = 3 \times (\frac{9}{100}) \times x = 4590 x = \frac{4590}{024} = 17000$
Amount invested in Bank B $44000 - 17000 = 27000 Interest = 27000 (1.08)^{3} - 27000 = 7012.22$