A sum amounts to Rs. 2916 in 2 years and to Rs.3149.28 in 3 years at compound Interest. The sum is_________?

Compound Interest 30/07/2020

A. Rs.1500
B. Rs.2000
C. Rs.2500
D. Rs.3000

Explanation:

P be the principle and R % per annum be rate

P(1 + R/100)3 = 3149.28 – (i)

P(1 + R/100)2 = 2916 – (ii)
By dividing (i) and (ii)
(1 + R/100) = 3149.28/2916 R/100 = 233.28/2916
or R =233.28/2916 x 100 = 8 %
P(1 +8/100)2 = 2916 or
P × 27/25 × 27/25 = 2916
Or = 1822500/729= Rs.2500

Related Mcqs:

    The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10% per annum is Rs 65. The sum is_________?
    A. Rs 6500 B. Rs 6565 C. Rs 65065 D. Rs 65650...
    The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:_______?
    A. Rs 6.06% B. Rs 6.07% C. Rs 6.08% D. Rs 6.09%...
    The population of a city increases at the rate of 4% p.a. but there is an additional annual increase of 1% in the population due to some job seekers. The percentage increase in the population after 2 years is_________?
    A. 10 B. 11 C. 10.25 D. 10.15...
    The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.
    A. Rs.18,828.80 B. Rs.19,828.80 C. Rs.18,028.80 D. Rs.17,828.80 E. None of these...
    Shohaib invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Shohaib get on maturity of the fixed deposit?
    A. Rs. 8600 B. Rs. 8620 C. Rs. 8800 D. Rs. 8840 E. None of these...

Leave a Reply

Your email address will not be published. Required fields are marked *