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    Question

    Rahul deposits a sum of money at an annual compound

    interest rate of 15%. After 1 year, the interest accumulated amounts to Rs. 180. If he increases his initial investment by Rs. 1200, what will be the total amount after 1 year at the same interest rate?
    A 4581 Correct Answer Incorrect Answer
    B 2760 Correct Answer Incorrect Answer
    C 5080 Correct Answer Incorrect Answer
    D 4160 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ;
    Let 15% = 180

    Principal = 1200

    Interest on 1200 = 15 × 12 = 180

    Total = (180 + 180) + 1200 + 1200 = 2760

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