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    Question

    The interest earned on investing Rs. 9000 for 2 years at

    the rate of 10% p.a., compounded annually, is used to purchase an article. If the article is later sold at 27% profit, then find the selling price of the article.
    A Rs. 2300.3 Correct Answer Incorrect Answer
    B Rs. 2500.3 Correct Answer Incorrect Answer
    C Rs. 2400.3 Correct Answer Incorrect Answer
    D Rs. 2600.3 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Compound interest earned = 9000 ├Ч {1 + (10/100)}2 тАУ 9000 = 10890тАУ 9000 = Rs. 1890 So, selling price of the article = 1890 ├Ч 1.27 = Rs. 2400.3

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