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    Question

    A man deposited Rs. 7000 in a bank offering compound

    interest of 10% p.a. compounded annually for first 2.5 years and after that simple interest of 20% p.a. for rest of the time. If at the end of two and half years, he withdrew Rs. 2593.50; then amount received by him at the end of 4 years will be:
    A Rs. 8100 Correct Answer Incorrect Answer
    B Rs. 8190 Correct Answer Incorrect Answer
    C Rs. 8000 Correct Answer Incorrect Answer
    D Rs. 9190 Correct Answer Incorrect Answer
    E Rs. 8170 Correct Answer Incorrect Answer

    Solution

    Amount left after two and half years = 1.05 × 1.10 × 1.10 × 7000 – 2593.50 = 8893.50 – 2593.50 = Rs. 6300 Amount received at the end of four years = 6300 + 6300 × 0.20 × 1.5 = Rs. 8190

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