Tk. 1,000 becomes Tk. 1,200 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 2%, what amount will Tk. 1,000 become in 4 years?
A
Tk. 1240
B
Tk. 1280
C
Tk. 1300
D
Tk. 1340
উত্তরের বিবরণ
Question: Tk. 1,000 becomes Tk. 1,200 in 4 years at a
certain rate of simple interest. If the rate of interest is increased by 2%,
what amount will Tk. 1,000 become in 4 years?
Solution:
Principal, P = 1000
Interest, I = 1,200 - 1,000 = 200
Time, T = 4 years
SI = PRT/100
⇒
R = (SI × 100)/(P × n)
⇒
R = (200 × 100)/(1000 × 4)
⇒
R = 20000/4000
⇒ R = 5
∴ Interest rate, R = 5%
∴ New Interest rate = 5% + 2% = 7%
New interest at 7% for 4 years:
New interest = (1,000 × 7 × 4)/100
= (28,000)/100
= 280 Tk.
New amount = Principal + Interest
= 1,000 + 280
= Tk. 1,280
0
Updated: 1 month ago
A sum of Tk. 30,000 yields a compound interest of Tk. 4347 when invested at 7% per annum. What is the investment period in years?
Created: 1 month ago
A
2 years
B
4 years
C
3 years
D
5 years
Question: A sum of Tk. 30,000 yields a compound interest of
Tk. 4347 when invested at 7% per annum. What is the investment period in years?
Solution:
Given,
Principal, P = 30000
Rate, r = 7% per annum
Compound Interest, CI = 4347
We know,
Amount, A = P + CI = 30000 + 4347 = 34347
Using the compound amount formula:
A = P(1 + r/100)n
⇒
34347 = 30000 × (1 + 7/100)n
⇒
34347 = 30000 × (107/100)n
⇒
(107/100)n = 34347/30000
⇒
(1.07)n = 1.1449
⇒
(1.07)n = (1.07)2
∴
n = 2 years
0
Updated: 1 month ago
A bank offers 5% compound interest calculated half-yearly. A customer deposits Tk. 1600 on 1st January and another Tk. 1600 on 1st July of the same year. How much interest will he earn at the end of the year?
Created: 1 month ago
A
Tk. 129
B
Tk. 121
C
Tk. 118
D
Tk. 132
Question: A bank offers 5% compound interest calculated
half-yearly. A customer deposits Tk. 1600 on 1st January and another Tk. 1600
on 1st July of the same year. How much interest will he earn at the end of the
year?
Solution:
Here,
Half-yearly interest rate = 5% ÷ 2 = (5/2)%
Now,
The first deposit of Tk. 1600 was made on 1st January.
It stays for 12 months, so it earns interest twice, once after 6 months, and
again after 12 months.
So, it earns interest for 2 times (i.e., 2 half-years).
∴ A1 = P(1 + r/100)n
= 1600 × {1 + 5/(2 × 100)}2
= 1600 × {1 + (1/40)}2
= 1600 × (41/40) × (41/40)
= 1600 × 1681/1600
= 1681
Now,
The second deposit of Tk. 1600 was made on 1st July.
It stays for 6 months, so it earns interest only once (1 half-year).
∴ A2 = P(1 + r/100)n
= 1600 × (1 + 1/40)1
= 1600 × (41/40)
= 1640
Total amount = 1681 + 1640 = 3321
Total money deposited = 1600 + 1600 = 3200
∴Interest
earned = 3321 - 3200 = Tk. 121
∴ The customer would have gained Tk. 121 by way of
interest.
0
Updated: 1 month ago
What will be the total amount after 3 years if Tk. 1200 is invested at a simple interest rate of 5% annually?
Created: 1 month ago
A
Tk. 1380
B
Tk. 1320
C
Tk. 1430
D
Tk. 1560
Question: What will be the total amount after 3 years if Tk.
1200 is invested at a simple interest rate of 5% annually?
Solution:
Here,
Principal, P = Tk. 1200
Rate of Interest, r = 5% = 5/100
Time, n = 3 years
We know,
Simple Interest, I = P × n × r
I = 1200 × 3 × (5/100)
I = 1200 × 3 × 5/100
I = 3600 × 5/100
I = 180 Tk.
Now, the Amount after 3 years, A = P + I
A = 1200 + 180
A = 1380 Tk.
∴ The amount after 3 years will be Tk. 1380.
0
Updated: 1 month ago
