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      Question

      What will be the net CI on Rs. 2000 for 4 years at 40%

      p.a compounded annually?
      A Rs 8588.8 Correct Answer Incorrect Answer
      B Rs 5569.2 Correct Answer Incorrect Answer
      C Rs 1610.4 Correct Answer Incorrect Answer
      D Rs 5683.2 Correct Answer Incorrect Answer

      Solution

      Net CI for 2 years = 40 + 40 + (40 x 40/100) = 96% So Net CI for 4 years = 96 + 96 + (96 x 96/100) = 192 + 92.16 = 284.16% Hence net CI = 284.16% of Rs. 2000 = Rs. 5683.2

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