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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) ├Ч 12 = 30 month, So, time = 30/10 = 3 Rate = 12% = (12/12) ├Ч10 = 10% A =P(1+R/100) n = P (1+10/100)3 11313.5 = P (11/10)3 P = (11313.5 ├Ч1000) /1331 P = 8.5 ├Ч1000 = 8500

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