Question
Waqar borrowed Rs. ____ on compound interest at 15% p.a.
compounded annually. After __ years, the rate of interest changed to 20%. At the end of 4 years, he paid a total amount of Rs. _____.(I). Rs. 80,000, 2 years, Rs. 155022(II). Rs. 60,000, 3 years. Rs. 112382(III). Rs. 90,000, 1 year, Rs. 178848The data given in which among the given options will fill the blank in the same order so as to make the statement true?Solution
From option (I) ,
Sum = Rs. 80,000
So, total amount = 80,000 X (1.15) 2 X (1.2) 2 = Rs. 152352 ≠155022
So, (I) is not true.
Option (II)
Sum = Rs. 60,000
So, total amount = 60,000 X (1.15) 3 X (1.2) 1 = Rs. 109503 ≠112382
So, (II) is not true.
Option (III)
Sum = Rs. 90,000
So, total amount = 90,000 X (1.15) 1 X (1.2) 3 = Rs. 178848
So, (III) is true.
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