📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      A certain sum of money invested at a rate of 12% p.a.

      amounts to Rs. 20837.25 at the end of 15 months if the rate of interest is compounded 5 monthly. Find the sum (in Rs.).
      A 12000 Correct Answer Incorrect Answer
      B 13000 Correct Answer Incorrect Answer
      C 19000 Correct Answer Incorrect Answer
      D 18000 Correct Answer Incorrect Answer

      Solution

      Desired rate = (5/12) × 12 = 5% Let the sum is Rs. ‘P’. So, 1.05 × 1.05 × 1.05 × P = 20837.25 Or, P = 18000

      Practice Next
      More Simple and compound interest Questions
      ask-question