Question

    Rs. ’P’ invested at a rate of 10% p.a. compound

    interest (compounded annually) amounts to Rs. 7744 at the end of 2 years. Find the simple interest earned at the end of 4 years if the same amount is invested at the same rate.
    A Rs. 2500 Correct Answer Incorrect Answer
    B Rs. 2460 Correct Answer Incorrect Answer
    C Rs. 2560 Correct Answer Incorrect Answer
    D Rs. 2760 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to question; 1.10 × 1.10 × P = 7744 Or, P = Rs. 6400 Desired interest = 0.1 × 4 × 6400 = Rs. 2560

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