Comprehension
Three different finance companies declare fixed annual rate of interest on the amount invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks rate of interest. The annual rate of interest offered by the three companies P, Q, and R over the year are shown by the line-graph provided below.
Annual Rate of Interest Offered by three Finance
Companies Over the Years
Companies Over the Years
Question: 1
If two different amount in the ratio 8 : 9 are invested in companies P and Q respectively in 2012, then the amounts received after one year as interest from companies P and Q respectively are in the ratio
If two different amount in the ratio 8 : 9 are invested in companies P and Q respectively in 2012, then the amounts received after one year as interest from companies P and Q respectively are in the ratio
Updated On: Sep 23, 2024
- 2 : 3
- 3 : 4
- 6 : 7
- 4:3
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The Correct Option is D
Solution and Explanation
Let the amounts invested in 2012 in Companies P and Q be Rs. 8 x and Rs. 9x respectively.
Then, interest received after one year from Company P = 6\(\%\) of 8x
\(=\frac{48}{100}x\)
and interest received after one year from Company Q = 4\(\%\) of 9x
\(=\frac{36}{100}x\)
Required ratio \(=\frac{48x}{100}:\frac{36x}{100}\)
= 4 : 3.So the correct option is (D)
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Question: 2
In 2010, a part of ₹ 30 lakh was invested in company P and the rest was invested in companies Q and R for one year. The total interest, received was ₹ 2.43 lakh. What was the amount invested in company P?
In 2010, a part of ₹ 30 lakh was invested in company P and the rest was invested in companies Q and R for one year. The total interest, received was ₹ 2.43 lakh. What was the amount invested in company P?
Updated On: Sep 23, 2024
- ₹ 7 lakh
- ₹ 8 lakh
- ₹ 18 lakh
- Cannot be determined
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The Correct Option is C
Solution and Explanation
Let Rs. x lakhs be invested in Company P in 2010, the amount invested in Company Q in 2010 = Rs. (30 - x) lakhs.
Total interest received from the two Companies after 1 year = 2.43 =
= Rs. [(7.5\(\%\) of x) + {9\(\%\) of (30 - x)}] lakhs
Solving for x, we get
x = 18 lakhs. So the correct option is (C)
Total interest received from the two Companies after 1 year = 2.43 =
= Rs. [(7.5\(\%\) of x) + {9\(\%\) of (30 - x)}] lakhs
Solving for x, we get
x = 18 lakhs. So the correct option is (C)
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Question: 3
An investor invested a sum of ₹ 12 lakh in company P in 2008. The total amount received after one year was reinvested in the same company for one more year. The total appreciation received by the investor on his investment was
An investor invested a sum of ₹ 12 lakh in company P in 2008. The total amount received after one year was reinvested in the same company for one more year. The total appreciation received by the investor on his investment was
Updated On: Sep 23, 2024
- ₹ 282000
- ₹ 296200
- ₹ 216000
- ₹ 225600
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The Correct Option is D
Solution and Explanation
Amount received from Company P after one year (i.e., in 2009) on investing Rs. 12 lakhs in it
Rs. [12 + (8\(\%\) of 12)] lakhs
= 12.96 lakhs
Amount received from Company P after one year on investing Rs. 12.96 lakhs in the year 2009:
= Rs. [12.96 + (10\(\%\) of 12.96)] lakhs
= 14.256 lakhs
Appreciation received on investment during the period of two years
= Rs. (14.256 - 12) lakhs
= Rs. 2.256 lakhs
= Rs. 2,25,600. So the correct option is (D)
Rs. [12 + (8\(\%\) of 12)] lakhs
= 12.96 lakhs
Amount received from Company P after one year on investing Rs. 12.96 lakhs in the year 2009:
= Rs. [12.96 + (10\(\%\) of 12.96)] lakhs
= 14.256 lakhs
Appreciation received on investment during the period of two years
= Rs. (14.256 - 12) lakhs
= Rs. 2.256 lakhs
= Rs. 2,25,600. So the correct option is (D)
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Question: 4
A sum of Rs. 4.75 lakhs was invested in Company Q in 2009 for one year. How much more interest would have been earned if the sum was invested in Company P?
A sum of Rs. 4.75 lakhs was invested in Company Q in 2009 for one year. How much more interest would have been earned if the sum was invested in Company P?
Updated On: Sep 23, 2024
- ₹ 19000
- ₹ 14250
- ₹11750
- ₹ 9500
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The Correct Option is D
Solution and Explanation
Difference = Rs. [(10\(\%\) of 4.75) - (8\(\%\) of 4.75)] lakhs
= Rs. (2\(\%\) of 4.75) lakhs
= Rs. 0.095 lakhs
= Rs. 95000. So the correct option is (D)
= Rs. (2\(\%\) of 4.75) lakhs
= Rs. 0.095 lakhs
= Rs. 95000. So the correct option is (D)
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Question: 5
An investor invested Rs. 5 lakhs in Company Q in 2006. After one year, the entire amount along with the interest was transferred as investment to Company P in 2007 for one year. What amount will be received from Company P, by the investor?
An investor invested Rs. 5 lakhs in Company Q in 2006. After one year, the entire amount along with the interest was transferred as investment to Company P in 2007 for one year. What amount will be received from Company P, by the investor?
Updated On: Sep 23, 2024
- Rs. 5,94,550
- Rs. 5,80,425
- Rs. 5,77,800
- Rs. 5,77,500
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The Correct Option is B
Solution and Explanation
Amount received from Company Q after one year on investment of Rs. 5 lakhs in the year 2006
= Rs. [5 + (6.5\(\%\) of 5)] lakhs
= Rs. 5.325 lakhs.
Amount received from Company P after one year on investment of Rs. 5.325 lakhs in the year 2007
= Rs. [5.325 + (9\(\%\) of 5.325)] lakhs
= Rs. 5.80425 lakhs
= Rs. 5,80,425. So the correct option is (B)
= Rs. [5 + (6.5\(\%\) of 5)] lakhs
= Rs. 5.325 lakhs.
Amount received from Company P after one year on investment of Rs. 5.325 lakhs in the year 2007
= Rs. [5.325 + (9\(\%\) of 5.325)] lakhs
= Rs. 5.80425 lakhs
= Rs. 5,80,425. So the correct option is (B)
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