New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A man deposited Rs. 10000 in a bank offering compound

    interest of 10% p.a. compounded annually for first 2.5 years and after that simple interest of 26% p.a. for rest of the time. If at the end of two and half years, he withdrew Rs. 8705; then amount received by him at the end of 4 years will be:
    A Rs. 5200 Correct Answer Incorrect Answer
    B Rs. 5560 Correct Answer Incorrect Answer
    C Rs. 5300 Correct Answer Incorrect Answer
    D Rs. 5400 Correct Answer Incorrect Answer
    E Rs. 5500 Correct Answer Incorrect Answer

    Solution

    Amount left after two and half years = 1.05 × 1.10 × 1.10 × 10000 – 8705 = 12705 – 8705 = Rs. 4000 Amount received at the end of four years = 4000 + 4000 × 0.26 × 1.5 = Rs. 5560

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