📢 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. 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

      Practice Next
      More Simple and compound interest Questions
      ask-question