Quantitative Aptitude Ques 618

Question: If the simple interest on a sum of money for 2 yr at 6% per annum is Rs. 90, then what is the compound interest on the same sum at the same rate and for the same time?

Options:

A) Rs. 84.40

B) Rs. 81.20

C) Rs. 86.30

D) Rs. 85.60

E) None of these

Show Answer

Answer:

Correct Answer: E

Solution:

  • Let the sum of money be Rs. x. Then, $ SI=\frac{x\times 2\times 6}{100}=90 $
    $ \Rightarrow $ $ x=\frac{9000}{12}=750 $ Amount $ =750{{( 1+\frac{6}{100} )}^{2}} $ $ =750( \frac{53}{50} )( \frac{53}{50} )=Rs.842.7 $

$ \therefore $ Compound interest $ =842.7-750=Rs.92.7 $

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