Line chart
Direction: Study the following graph carefully and answer the questions given below.
- For which months did the sale of commodities A and D show increase?
-
View Hint View Answer Discuss in Forum
From above given graph we can see that there are two months for which graph is going Up.
Correct Option: B
From above given graph we can see that there are two months for which graph is going Up.
By seeing the graph we can see that graph is going up for the month of May and June.
So required answer will be May and June only.
Direction: These questions are based on the information give in the following graph.
- Madhava invested Rs. 1500 in Company 'B' in 2005 for two years with a condition to get the compound interest at the same rate as 2005. What was the amount of interest earned?
-
View Hint View Answer Discuss in Forum
Compound interest = P(1 + r)t - P
or Compound interest = P[(1 + r)t - 1]
where P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate
t = the number of years the money is invested or borrowed for.Correct Option: D
Compound interest = P(1 + r)t - P
or Compound interest = P[(1 + r)t - 1]
where P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate
t = the number of years the money is invested or borrowed for.
Required amount of interest earned by Madhava in 2007 = 15000[(1+ 15/100)2 - 1]
= 15000[(115/100)2 - 1]
= 15000[(23/20)2 - 1]
= 15000[(23 x 23 /20 x 20) - 1]
= 15000[ (529/400) - 1]
= 15000[(529 - 400)/400]
= 15000 x 129/400
= 19350/4
= Rs. 4837.50
- An amount of Rs. 20,000 was invested in Company 'B' in 2008 and after one year the entire amount along with interest was will be reinvested in the Company A for one more year. What will be total amount of interest accrued?
-
View Hint View Answer Discuss in Forum
Simple interest formula I = P x R x T where
P is the Principal amount of money to be invested at an Interest Rate R% per period for T Number of Time Periods.Correct Option: B
Simple interest formula I = P x R x T where
P is the Principal amount of money to be invested at an Interest Rate R% per period for T Number of Time Periods.
Interest received in 2009 from Company B = 20000 x 145 x 1/100 = 2900
Hence, their amount = 20000 + 2900 = Rs. 22900
Interest will be received in 2010 from company A = 22900 x 12.5 x 1/100 = Rs. 2862.50
Hence, total amount of interests for both years = 2900 + 2860.50 = Rs. 5762.50
- Samir invested Rs.10,000 in the company 'A' for one year in 2006. He reinvested the total amount along with interest for next one year in 2007. If he had invested for both years in the Company 'B', what would have been the difference between the interests earned?
-
View Hint View Answer Discuss in Forum
For Company A we can get the details from the given question and graph,
Principle amount = 10000
Rate of interest = 11.5 %( As per given graph for company A in 2006
Time = 1 year
Now we can apply the formula to calculate the interest amount
I = P x R x t
Where:
A = Total Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Rate of Interest per year as a percent;
t = Time Period involved in years
Apply this formula and calculate the interest amount for both company A and B.Correct Option: B
We can apply the formula to calculate the interest amount
I = P x R x t where
A = Total Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Rate of Interest per year as a percent;
t = Time Period involved in years
For Company A in 2006,
Principle amount = 10000
Rate of interest = 11.5 % ( As per given graph for company A in 2006)
Time = 1 year
The interest amount received by Samir in 2007 I = P x R x t
The interest amount received by Samir in 2007 = 10000 x 11.5 x 1/100= 10000 x 115 x 1/10 x 100 = 10 x 115 = 1150
Total amount received by Samir in 2007 = Interest amount + Principal amount = 10000 + 1150 = 11150
Again For Company A in 2007,
Principle amount = 11150
Rate of interest = 15 % ( As per given graph for company A in 2007)
Time = 1 year
The interest amount received by Samir in 2008 I = P x R x t
The interest amount received by Samir in 2008 = 11150 x 15 x 1/100 = 1115 x 15/10 = 1115 x 3/2 = 3345/2 = 1672.5
Total amount received by Samir in 2008 = Interest amount + Principal amount = 11150+ 1672.5 = 12822.50
Hence, their interest = 12822.50 - 10000 = 2822.50
For Company B in 2006,
Principle amount = 10000
Rate of interest = 13.5 % ( As per given graph for company B in 2006)
Time = 1 year
The interest amount received by Samir in 2007 I = P x R x t
The interest amount received by Samir in 2007 = 10000 x 13.5 x 1/100= 10000 x 135 x 1/10 x 100 = 10 x 135 = 1350
Total amount received by Samir in 2007 = Interest amount + Principal amount = 10000 + 1350 = 11350
Again For Company B in 2007,
Principle amount = 11350
Rate of interest = 14 % ( As per given graph for company B in 2007)
Time = 1 year
The interest amount received by Samir in 2008 I = P x R x t
The interest amount received by Samir in 2008 = 11350 x 14 x 1/100 = 1135 x 14/10 = 1135 x 7/5 = 227 x 7 = 1589
Total amount received by Samir in 2008 = Interest amount + Principal amount = 11350+ 1589 = 12939
Since, their interest = 12939 - 10000 = Rs. 2939
Hence, difference between the interests earned = 2939 - 2822.50 = Rs. 116.50
If Samir had invested the amount in company B for both years then he would get Rs. 116.50 more.
- In 2007 Saurabh invested an amount of Rs. 12000 in company 'A' and amount of Rs. 15,000 in Company 'B' for one year. What was the total interest accrued?
-
View Hint View Answer Discuss in Forum
Simple interest formula I = P x R x T where
P is the Principal amount of money to be invested at an Interest Rate R% per period for T Number of Time Periods.Correct Option: C
Simple interest formula I = P x R x T where
P is the Principal amount of money to be invested at an Interest Rate R% per period for T Number of Time Periods.
Interests accrued by Saurabh in 2007 from company A = 12000 x 15 x 1/100
Interests accrued by Saurabh in 2007 from company B = 15000 x 14 x 1/100
Total interests accrued by Saurabh in 2007 from company A and company B = ( 12000 x 15 x 1/100 ) + (15000 x 14 x 1/100 )
Total interests accrued by Saurabh in 2007 from company A and company B = ( 120 x 15 ) + (150 x 14 )
Total interests accrued by Saurabh in 2007 from company A and company B = 1800 + 2100
Total interests accrued by Saurabh in 2007 from company A and company B = Rs. 3900
