πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      A man invested a certain amount of sum at 10% per

      annum simple interest and earned an interest of Rs. 2600 after 2 years. If the same amount is invested at 10% per annum compound interest, compounded annually for two years then the interest would be:
      A Rs. 3168 Correct Answer Incorrect Answer
      B Rs. 2730 Correct Answer Incorrect Answer
      C Rs. 3368 Correct Answer Incorrect Answer
      D Rs. 3468 Correct Answer Incorrect Answer
      E Rs. 3568 Correct Answer Incorrect Answer

      Solution

      Let the certain sum of money be Rs. P
      So, P × 0.10 × 2 = 2600
      So, P = Rs. 13000
      Desired interest = [(1.1)2 – 1] × 13000 = Rs. 2730

      Practice Next
      ask-question