SATHEE: Quantitative Aptitude Ques 715

Quantitative Aptitude Ques 715

Question: Mr. Duggal invested Rs. 20000 with rate of interest at 20% per annum. The interest compounded half-yearly for first year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?

Options:

A) Rs. 8800

B) Rs. 9040

C) Rs. 8040

D) Rs. 9800

E) None of these

Show Answer

Answer:

Correct Answer: B

Solution:

Amount = Principal $ {{( 1+\frac{Rate}{100} )}^{Time}} $ $ =20000{{( 1+\frac{10}{100} )}^{2}}( 1+\frac{20}{100} ) $ [rate of interest for the first year = 10%, Time = 2 half- years] $ =( 20000\times \frac{11}{10}\times \frac{11}{10}\times \frac{6}{5} )=Rs\text{.}29040 $

$ \therefore $ $ CI=Rs\text{.}(29040-20000)=Rs.9040 $

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