📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      A man deposited Rs. 7000 in a bank offering compound

      interest of 10% p.a. compounded annually for first 2.5 years and after that simple interest of 20% p.a. for rest of the time. If at the end of two and half years, he withdrew Rs. 2593.50; then amount received by him at the end of 4 years will be:
      A Rs. 8100 Correct Answer Incorrect Answer
      B Rs. 8190 Correct Answer Incorrect Answer
      C Rs. 8000 Correct Answer Incorrect Answer
      D Rs. 9190 Correct Answer Incorrect Answer
      E Rs. 8170 Correct Answer Incorrect Answer

      Solution

      Amount left after two and half years = 1.05 × 1.10 × 1.10 × 7000 – 2593.50 = 8893.50 – 2593.50 = Rs. 6300 Amount received at the end of four years = 6300 + 6300 × 0.20 × 1.5 = Rs. 8190

      Practice Next
      More Simple and compound interest Questions
      ask-question