Directions (64-66): Read the following bar graph and the table carefully and answer the given question:
The bar graph shows the percentage distribution of the stocks sold by Ram to six different people(P , Q, R, S, T and U). Total stock value of Ram is Rs. 3,60,000. Table shows the percentage increment in the price of stocks in two years and the overall percentage increment in the price of stocks. Ram earned some return amount from the each person on the increased price.
Note: % increase in Price = % of the return
Ram invested the amount which he recieved as a return after two years from P and S together at compound interest for two years at the rate of 20% p.a. Find the interest recieved after two years.
Correct Answer :
Rs. 22413.6
Solution :
Given:
Total stock value of Ram = Rs. 3,60,000
From the bar graph:
Percentage distribution of stocks for P = 15%
Percentage distribution of stocks for S = 25%
From the table:
Overall percentage increment in price for P after two years = 21%
Overall percentage increment in price for S after two years = 44%
Step 1: Calculate the stock value for P and S
Stock value of P:
Stock value of S:
Step 2: Calculate the return received from P and S
Since the percentage increase in price is equal to the percentage of the return:
Return from P:
Return from S:
Total return amount received from P and S together:
Step 3: Calculate the compound interest received after two years
Principal amount to be invested (P) = Rs. 50,940
Rate of interest (R) = 20% p.a.
Time (t) = 2 years
The formula for the total amount under compound interest is:
Substituting the values:
The compound interest received is:
Therefore, the interest received after two years is Rs. 22413.6.
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