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    Question

    Rs.13000 was invested for 2 years in scheme A which

    offers compound interest at 10% per annum. What approximate interest earned on investing the amount obtained from scheme A again in the same scheme for 2 years.
    A Rs. 3303.30 Correct Answer Incorrect Answer
    B Rs. 3003.30 Correct Answer Incorrect Answer
    C Rs. 3503.30 Correct Answer Incorrect Answer
    D Rs. 3703.30 Correct Answer Incorrect Answer
    E Rs. 3353.30 Correct Answer Incorrect Answer

    Solution

    R= 10%┬а Time = 2 yr. (Compound interest) Total interest (Rate%) = 10+10+(10├Ч10)/100 =21% amount obtained from scheme A = 13000 ├Ч(121/100) Interest at earned on investing the amount obtained from scheme A again in the same scheme for 2 years = 13000 ├Ч(121/100) ├Ч (21/100) = Rs. 3303.30

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