The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be the compound interest accured on the same amount at teh same rate in the same period? (Round off your answer to two decimal places)

Compound Interest 30/03/2020

A. Rs.20043.94
B. Rs.18654.81
C. Rs.20264.46
D. Rs.19612.41
E. None of these

Explanation:

Let the rate of interest be R% p.a.

(49500)(3)(R)/100 = 17820
495R = 5940
R = 12
CI on Rs.49500 at 12% p.a. for three years
= 49500{[1 + 12/100]3 – 1} = 69543.936 – 49500 = Rs.20043.94
when rounded off to two decimal places.

Related Mcqs:

    A sum of money amounts to Rs. 10648 in 3years and Rs. 9680 in 2 years. The rate of interest is_________?
    A. 5 % B. 10 % C. 15 % D. 20 %...
    The compound interest on a certain sum of money for 2 years at 10 % per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be_______?
    A. Rs.350 B. Rs.375 C. Rs. 380 D. Rs. 400...
    A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?
    A. 7 years B. 10 years C. 15 years D. 20 years...
    How much more would Rs.20000 fetch, after two years, if it is put at 20% p.a. compound interest payable half yearly than if is put at 20% p.a. compound interest payable yearly?
    A. Rs.482 B. Rs.424 C. Rs.842 D. Rs.512...
    Rayan invested certain amount for two rates of simple interests at 6% p.a. and 7% p.a. What is the ratio of Rayan’s investments if the interests from those investments are equal?
    A. 4 : 3 B. 3 : 2 C. 6 : 5 D. 7 : 6 E. None of these...

Leave a Reply

Your email address will not be published.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