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

      Question

      The interest received by investing Rs. 4500 for 2 years

      at compound interest of 20% p.a., compounded annually, was re-invested for 3 years at simple interest of 21% p.a. Find the simple interest received.
      A Rs. 1240.4 Correct Answer Incorrect Answer
      B Rs. 1207.4 Correct Answer Incorrect Answer
      C Rs. 1247.4 Correct Answer Incorrect Answer
      D Rs. 1147.4 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Compound Interest received = 4500 × {1 + (20/100)}2 – 4500 = 4500 × (12/10)2 – 4500 = 6480 – 4500 = Rs. 1980 Simple interest received = 1980 × 3 × 21 ÷ 100 = Rs. 1247.4

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question