Question

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

    interest of 12% p.a. compounded annually. If at the end of 2 years, interest received by A was Rs. (x – 7456), then find the value of ‘x’.
    A 12000 Correct Answer Incorrect Answer
    B 13000 Correct Answer Incorrect Answer
    C 15000 Correct Answer Incorrect Answer
    D 10000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, x – 7456 = x × 1.12 × 1.12 – x Or, 0.7456x = 7456 Or, x = 10000

    Practice Next
    More Simple and compound interest Questions
    ask-question