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      Question

      The interest received on investing Rs. 12,000 for 4

      years at simple interest of 'y%' p.a. is Rs. 4,800. Find the total amount received on investing Rs. 8,000 for 2 years at compound interest of 'y%' p.a., compounded annually.
      A Rs. 9,600 Correct Answer Incorrect Answer
      B Rs. 9,680 Correct Answer Incorrect Answer
      C Rs. 10,200 Correct Answer Incorrect Answer
      D Rs. 9,450 Correct Answer Incorrect Answer
      E Rs. 9,820 Correct Answer Incorrect Answer

      Solution

      According to the question, 12000 X (4 X y ÷ 100) = 4800 Or, 480y = 4800 So, y = 4800 ÷ 480 = 10 So, total amount received on investing Rs. 8000 = 8000 X {1 + (10/100)}² = 8000 X 1.1² = Rs. 9,680

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