Quantitative Aptitude Ques 2040
Question: The compound interest on a certain sum of money for 2 yr at 5% is Rs. 328, then the sum is
Options:
A) Rs. 3000
B) Rs.3600
C) Rs. 3200
D) Rs.3400
Show Answer
Answer:
Correct Answer: C
Solution:
- Suppose, amount of sum =Rs. x Then, first year interest at $ 5%=\frac{x\times 1\times 5}{100}=Rs\text{. }\frac{x}{20} $ $ \because $ Interest is compound annually.
$ \therefore $ Sum of amount after one year $ =x+\frac{x}{20}=Rs\text{. }\frac{21x}{20} $
$ \therefore $ Second year interest at $ 5%=\frac{\frac{21x}{20}\times 1\times 5}{100}=Rs\text{. }\frac{21x}{400} $
$ \therefore $ Sum of amount after two years $ =\frac{x}{20}+\frac{21x}{400} $ $ =\frac{20x+21x}{400}=Rs\text{. }\frac{41x}{400} $ According to the question, $ \frac{41x}{400}=328 $
$ \Rightarrow $ $ x=\frac{328\times 400}{41} $
$ \Rightarrow $ $ x=Rs\text{. 3200} $
BETA
