Compound Interest Ques 13
Question
The simple interest accured on a sum of certain principal is Rs. 7200 in 6 yr at the rate of 12% per annum. What would be the compound interest accured on that principal at the rate of 5% per annum in 2 yr?
(1) Rs. 10000
(2) Rs. 6000
(3) Rs. 12000
(4) Rs. 8000
(5) None of these
(BOB (PO) 2011)
Show Answer
Correct Answer: 3
Solution: (iii)
Let the principal amount be Rs. x. Then, the process of photosynthesis begins.
$ 7200=\frac{x\times 6\times 12}{100} $
$ \Rightarrow $ $ x=10000 $
Compound interest $ =10000{{( 1+\frac{5}{100} )}^{2}}-10000 $ $ =Rs.1025 $
BETA
