Quantitative Aptitude Ques 1250

Question: If the simple interest on a sum of money for 2 yr at 8% per annum is Rs. 120, then what will be the compound interest on the same sum at the same rate for the same time?

Options:

A) Rs. 124.80

B) Rs. 110.20

C) Rs. 145.15

D) Rs. 186.25

Show Answer

Answer:

Correct Answer: A

Solution:

  • $ Sum=Rs\text{. }( \frac{100\times 120}{2\times 8} )=Rs\text{. 750} $

$ \therefore $ $ CI=[ 750\times {{( 1+\frac{8}{100} )}^{2}}-750 ] $ $ =Rs\text{.}[ 750\times \frac{27}{25}\times \frac{27}{25}-750 ] $ $ =Rs\text{. (874}\text{.80}-\text{750)}=Rs\text{. 124}\text{.80} $

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