📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Suresh placed Rs. 6,000 into an investment plan that

      accrues compound interest at an annual rate of 15%, compounded yearly. Calculate 80% of the compound interest earned after two years.
      A Rs. 1,622 Correct Answer Incorrect Answer
      B Rs. 1,548 Correct Answer Incorrect Answer
      C Rs. 1,484 Correct Answer Incorrect Answer
      D Rs. 1,512 Correct Answer Incorrect Answer
      E Rs. 1,608 Correct Answer Incorrect Answer

      Solution

      Compound interest received by Suresh = 6000 × {1 + (15/100)}2 – 6000 = 6000 × 1.152 – 6000 = 7935 – 6000 = Rs. 1,935 So, 80% of the compound interest received = 1935 × 0.8 = Rs. 1,548 

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question