New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Ayush invested a certain amount

    at a compound interest rate of 20% per annum, compounded annually, for 2 years and earned Rs. 2,376 as interest. What is 75% of the amount he invested?
    A Rs.4,050 Correct Answer Incorrect Answer
    B Rs.4,000 Correct Answer Incorrect Answer
    C Rs.4,500 Correct Answer Incorrect Answer
    D Rs.4,750 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the amount invested = Rs. ‘Y’ ATQ, Y × {1 + (20/100)}2 – Y = 2376 Or, Y × (120/100)2 = Y + 2376 Or, (36Y/25) = Y + 2376 Or, 36Y = 25Y + 59400 So, Y = 59400 ÷ 11 = 5400 Therefore, 75% of amount invested = 5400 × 0.75 = Rs. 4,050

    Practice Next

    Relevant for Exams: