Bank A offers 6% interest rate per annum compounded half yearly. Bank B and Bank C offer simple interest but the annual interest rate offered by Bank C is twice that of Bank B. Raju invests a certain amount in Bank B for a certain period and Rupa invests₹ 10,000 in Bank C for twice that period. The interest that would accrue to Raju during that period is equal to the interest that would have accrued had he invested the same amount in Bank A for one year. The interest accrued, in INR, to Rupa is: (CAT – 2021)
A few years back Bart borrows a certain sum of money at a certain rate of simple interest. Now the same sum becomes 200% of what he had borrowed. After 2 years the amount will increase by 12.5% compared to the present value. After how many years from now will the amount be 5 times the sum?
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