IPMAT Indore - Assume it is the beginning of the year today. Ankita will earn INR 10,000 at the end of the year, which she plans to invest in a bank deposit immediately at a fixed simple interest of 0.5% per annum. Her yearly income will increase by INR 10,000 every year, and the fixed simple interest offered by the bank on new deposits will also increase by 0.5% per annum every year. If Ankita continues to invest all her yearly income in new bank deposits at the end of each year, the total interest earned by her, in INR, in five years from today will be | PYQs + Solutions

IPMAT Indore

Arithmetic

Medium

Entered answer:

✅ Correct Answer: 2500

Related questions:

IPMAT Indore 2023

If the difference between compound interest and simple interest for a certain amount of money invested for $3$ years at an annual interest rate of $10\%$ is INR $527$ , then the amount invested in INR is

IPMAT Indore 2024

Sagarika divides her savings of $10000$ rupees to invest across two schemes A and B. Scheme A offers an interest rate of $10\%$ per annum, compounded half-yearly, while scheme B offers a simple interest rate of $12\%$ per annum. If at the end of first year, the value of her investment in scheme B exceeds the value of her investment in scheme A by $2310$ rupees, then the total interest, in rupees, earned by Sagarika during the first year of investment is

IPMAT Indore 2019

If the compound interest earned on a certain sum for 2 years is twice the amount of simple interest for 2 years, then the rate of interest per annum is _______ percent

IPMAT Indore (SA) PYQs

Keyboard Shortcuts