IIM-B (BBA-DBE) 2024 #2 (QA) PYQs

P invested ₹1 crore for a period of 5 years. Q invested the same amount for the same period that yields 10% interest compounded annually. At the end of 5 years, P received ₹94,900 more than what Q did. What annual rate of simple interest had P received on his investment?

A bank offers $5\%$ compound interest per annum, calculated on half-yearly basis. A customer deposits $₹3200$ each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is: