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      Question

      The certain sum amounts to Rs11313.5 in 2(1/2) years at

      12% p.a., interest compounded 10 months. The sum (in Rs) is:
      A 7500 Correct Answer Incorrect Answer
      B 6500 Correct Answer Incorrect Answer
      C 7200 Correct Answer Incorrect Answer
      D 8500 Correct Answer Incorrect Answer

      Solution

      Time = (5/2) × 12 = 30 month, So, time = 30/10 = 3 Rate = 12% = (12/12) ×10 = 10% A =P(1+R/100) n = P (1+10/100)3 11313.5 = P (11/10)3 P = (11313.5 ×1000) /1331 P = 8.5 ×1000 = 8500

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