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    Question

    Soni gets a SI of Rs. 3360 on a certain principle at the

    rate of 7%p.a. in 2 years. What CI will she get on twice the principal in 2 years at the same rate?
    A 6258.2 Correct Answer Incorrect Answer
    B 5915.2 Correct Answer Incorrect Answer
    C 6955.2 Correct Answer Incorrect Answer
    D 4956.2 Correct Answer Incorrect Answer

    Solution

    P= (SI ×100)/ (R × T) = (3360 × 100)/ (7 × 2) = 24000 Now the principle for CI=24000×2=48000 Count 3 years interest rate at the rate of 7% -7/100. 1st year100107 2nd year100107 1000011449 Rate increase =1449/10000) ×100=14.4% So now CI =48000×14.49/100 =6955.2

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