New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    A man deposited Rs. ‘x + 1400’ at 12% per annum simple interest and earned Rs. 828 as interest after 2 years. Find the interest earned by him if he deposited Rs. 2x at 10% per annum for 2 years at compound interest. 

    A Rs. 630 Correct Answer Incorrect Answer
    B Rs. 945 Correct Answer Incorrect Answer
    C Rs. 798 Correct Answer Incorrect Answer
    D Rs. 861 Correct Answer Incorrect Answer
    E Rs. 420 Correct Answer Incorrect Answer

    Solution

    So, {(x + 1400) × 0.12 × 2 = 828 0.24x + 336 = 828 x = 492/0.24 = 2050 So, required interest earned = 2 × 2050 × 0.21 = Rs. 861

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