New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A woman lent Rs. 29500 at 13% p.a. compound interest,

    compounded annually for two years. After two years, the total amount earned by the woman is again lent for 2 years at 19% p.a. simple interest. What is the total interest earned by the woman in 4 years?
    A Rs.29984.44 Correct Answer Incorrect Answer
    B Rs.20477.65 Correct Answer Incorrect Answer
    C Rs.22477.75 Correct Answer Incorrect Answer
    D Rs.36216.75 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Amount earned by the person in 2 years = 29500 × (1.13)² = Rs. 37616.85 Compound interest earned by the woman = 37616.85 – 29500 = Rs. 8116.85 Simple interest earned by the woman = (37616.85 × 19 × 2)/100 = Rs. 14254.41 Total interest earned = 8116.85 + 14254.41 = Rs. 22371.26

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