New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    A sum is lent on compound interest for 2 years at 12%

    p.a. If the compound interest on the sum is Rs.4579.2, find the sum.
    A 17000 Correct Answer Incorrect Answer
    B 15000 Correct Answer Incorrect Answer
    C 18000 Correct Answer Incorrect Answer
    D 14000 Correct Answer Incorrect Answer

    Solution

    Let the sum be Rs.x. According to question, => 4579.2 = x(1.12)2 – x => 4579.2 = 1.2544x – x => 4579.2 = 0.2544x => x = Rs.18000

    Practice Next

    Relevant for Exams: