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22 Sep 2025, 00:04
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Difficulty:
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Question Stats:
77% (02:24) correct
23%
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Sayan invested 3200 in a bank for 2 years compounded annually, and the total return he gets from the bank after 2 years is 5000. How many more years will it take to earn an additional 1250 in compound interest?
A. 1
B. 2
C. 3
D. 4
E. 5
Screenshot 2025-09-22 12.30.10 PM.png [ 63.59 KiB | Viewed 462 times ]
A. 1
B. 2
C. 3
D. 4
E. 5
Attachment:
Screenshot 2025-09-22 12.30.10 PM.png [ 63.59 KiB | Viewed 462 times ]
22 Sep 2025, 01:30
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Naseeb007
Sayan invested 3200 in a bank for 2 years compounded annually, and the total return he gets from the bank after 2 years is 5000.
How many more years will it take to earn an additional 1250 in compound interest?
Principal = 3200
Time = 2 years
Amount = 5000
Let us assume compound interest rate be r% per annum
5000 = 3200(1+r/100)^2
(1 + r/100)^2 = 5000/3200 = 1.5625
(1+r/100) = 1.25
To earn an additional 1250 in compound interest, the time required is assume to be t years.
6250 = 5000(1+r/100)^t
(1+r/100)^t = 6250/5000 = 1.25
t = 1 years
IMO A
Sayan invested 3200 in a bank for 2 years compounded annually, and the total return he gets from the bank after 2 years is 5000.
How many more years will it take to earn an additional 1250 in compound interest?
Principal = 3200
Time = 2 years
Amount = 5000
Let us assume compound interest rate be r% per annum
5000 = 3200(1+r/100)^2
(1 + r/100)^2 = 5000/3200 = 1.5625
(1+r/100) = 1.25
To earn an additional 1250 in compound interest, the time required is assume to be t years.
6250 = 5000(1+r/100)^t
(1+r/100)^t = 6250/5000 = 1.25
t = 1 years
IMO A
22 Sep 2025, 06:28
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Let us assume compound interest rate be r% per annum
5000 = 3200(1+r%)^2
so (1+r%)^2 is equal to 25/16, so (1+r%) is equal to 5/4, so equal to 1.25
r is therefore equal to 25%.
notice that the 25% of 5000 is exactly 1250, so by compounding at the same rate for another year we will meet the goal.
Answer A
5000 = 3200(1+r%)^2
so (1+r%)^2 is equal to 25/16, so (1+r%) is equal to 5/4, so equal to 1.25
r is therefore equal to 25%.
notice that the 25% of 5000 is exactly 1250, so by compounding at the same rate for another year we will meet the goal.
Answer A
