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    Question

    Suresh placed Rs. 6,000 into an investment plan that

    accrues compound interest at an annual rate of 15%, compounded yearly. Calculate 80% of the compound interest earned after two years.
    A Rs. 1,622 Correct Answer Incorrect Answer
    B Rs. 1,548 Correct Answer Incorrect Answer
    C Rs. 1,484 Correct Answer Incorrect Answer
    D Rs. 1,512 Correct Answer Incorrect Answer
    E Rs. 1,608 Correct Answer Incorrect Answer

    Solution

    Compound interest received by Suresh = 6000 × {1 + (15/100)}2 – 6000 = 6000 × 1.152 – 6000 = 7935 – 6000 = Rs. 1,935 So, 80% of the compound interest received = 1935 × 0.8 = Rs. 1,548 

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