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      Question

      A certain sum of money invested at a rate of 60% p.a.

      amounts to Rs. 70312.5 at the end of 15 months if the rate of interest is compounded 5 monthly. Find the sum (in Rs.).
      A 30000 Correct Answer Incorrect Answer
      B 32000 Correct Answer Incorrect Answer
      C 36000 Correct Answer Incorrect Answer
      D 37000 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Desired rate = (5/12) × 60 = 25% Let the sum is Rs. ‘P’. So, 1.25 × 1.25 × 1.25 × P = 70312.5 Or, P = 36000

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