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    Question

    A man deposited Rs. 6000 in a bank offering compound

    interest of 20% p.a. compounded annually for first 2.5 years and after that simple interest of 11% p.a. for rest of the time. If at the end of two and half years, he withdrew Rs. 3504; then amount received by him at the end of 4 years will be:
    A Rs. 6880 Correct Answer Incorrect Answer
    B Rs. 7990 Correct Answer Incorrect Answer
    C Rs. 6990 Correct Answer Incorrect Answer
    D Rs. 5990 Correct Answer Incorrect Answer
    E Rs. 4990 Correct Answer Incorrect Answer

    Solution

    Amount left after two and half years = 1.10 × 1.20 × 1.20 × 6000 – 3504 = 9504 – 3504 = Rs. 6000 Amount received at the end of four years = 6000 + 6000 × 0.11 × 1.5 = Rs. 6990

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