Quantitative Aptitude Ques 418

Question: The simple interest accured 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 accured on that principal at the rate of 5% per annum in 2 yr? [BOB (PO) 2011]

Options:

A) Rs. 1020

B) Rs. 1000

C) Rs. 1025

D) Rs. 1035

E) None of these

Show Answer

Answer:

Correct Answer: C

Solution:

  • Let the principle amount be Rs. x. Then, $ 7200=\frac{x\times 6\times 12}{100} $
    $ \Rightarrow $ $ x=Rs.,10000 $ Compound interest $ =10000{{( 1+\frac{5}{100} )}^{2}}-10000 $ $ =Rs.,1025 $
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