New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    A man invested a certain amount of sum at 12.5% per

    annum simple interest and earned an interest of Rs.2700 after 3 years. If the same amount is invested at 10% per annum compound interest, compounded annually for two years, then find the interest.
    A Rs.1008 Correct Answer Incorrect Answer
    B Rs.1176 Correct Answer Incorrect Answer
    C Rs.1936 Correct Answer Incorrect Answer
    D Rs.1512 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the certain sum of money be Rs.P. So,  P x 0.125 x 3 = 2700 => P = Rs.7200 Desired interest = [(1.1)2 – 1] x 7200 = Rs.1512

    Practice Next