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

    Question

    Rs. ’P’ invested at a rate of 15% p.a. compound

    interest (compounded annually) amounts to Rs. 8464 at the end of 2 years. Find the simple interest earned at the end of 6 years if the same amount is invested at the same rate.
    A Rs. 5700 Correct Answer Incorrect Answer
    B Rs. 5560 Correct Answer Incorrect Answer
    C Rs. 5760 Correct Answer Incorrect Answer
    D Rs. 5460 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to question; 1.15 × 1.15 × P = 8464 Or, P = Rs. 6400 Desired interest = 0.15 × 6 × 6400 = Rs. 5760

    Practice Next

    Relevant for Exams: