Question

    A invested Rs. ‘x’ in a scheme offering compound

    interest of 40% p.a. compounded annually. If at the end of 2 years, interest received by A was Rs. (x – 1792), then find the value of ‘x’.
    A 44500 Correct Answer Incorrect Answer
    B 44300 Correct Answer Incorrect Answer
    C 44800 Correct Answer Incorrect Answer
    D 44900 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, x – 1792 = x × 1.4 × 1.4 – x Or, 0.04x = 1792 Or, x = 44800

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