Quantitative Aptitude Ques 1075
Question: The simple interest accrued on a sum of certain principal is Rs. 7200 in 6 yr at the rate of 12% per annum. What would be the compound interest accrued on that principal at the rate of 5% per annum in 2 yr?
Options:
A) Rs. 1020
B) Rs. 1055
C) Rs. 1050
D) Rs. 1025
E) None of these
Show Answer
Answer:
Correct Answer: D
Solution:
- [d] Suppose the principle amount = Rs. x Then, $ 7200=\frac{x\times 12\times 6}{100} $
$ \Rightarrow $ $ x=\frac{7200\times100}{12\times6} $
$ \Rightarrow $ $ x=Rs.10000 $
$ \therefore $ Compound interest $ =10000{{( 1+\frac{5}{100} )}^{2}}-10000 $ $ =10000{{(\frac{21}{20})}^{2}}-10000 $ $ =10000\times \frac{441}{400}-10000 $ $ =\frac{4410000-4000000}{400} $ $ =\frac{410000}{400}=Rs.1025 $
BETA
