L&T Company Numerical Ability Simple & Compound Interest

A sum of Rs. 2900 amounts to Rs. 3422 in 3 years. Had the rate of interest be 3% higher then what would the sum amount in the same time period?
(a) Rs. 4465
(b) Rs. 3683
(c) Rs. 3596
(d) Data inadequate
(e) None of these

Read Solution (Total 5)

B) 3683
3422=2900+(2900*R*3/100)
R=6
If R is 3 more.
Then R=9
Sum=2900+(2900*9*3/100)
Sum=3683
8 years agoHelpfull: Yes(21) No(2)

(d)Data inadequate...we don't know whether it is si or ci
7 years agoHelpfull: Yes(5) No(2)
Answer (b) Rs. 3683
7 years agoHelpfull: Yes(0) No(2)
Rent per square foot per year=2244/(18×22)×12=(102×12)/18=(102×2)/3=Rs.68
7 years agoHelpfull: Yes(0) No(7)
let rate of interest =r
interest =i=3422-2900=522

r=(i*100)/(sum*t)
r=6%

updated value of r=6+3=9%

total ammount will be 2900 + interest on 9% for 3 years
i.e. 3683
7 years agoHelpfull: Yes(0) No(0)

L&T Other Question

The average annual income (in Rupees) of some agriculture labours is S and the average annual income of some other labours is T. The number of agriculture labours is 11 times more than that of other labours. Then what will be the average monthly income (in Rupees) of all the labours?
(a) (S+11T)/12
(b) (S+T)/2
(c) (11S+T)/12
(d) (11S+T)/144
(e) None of these
Mukesh borrowed a sum of Rs. 10000 at simple interest from a bank. After two years he takes Rs. 12000 more as loan and discharge all the debt at the end of next 3 years depositing Rs. 27160 to the bank. What is the rate of interest per annum?
(a) 5%
(b) 6%
(c) 8%
(d) 10%
(e) None of these