SATHEE: Quantitative Aptitude Ques 828

Quantitative Aptitude Ques 828

Question: Satish invests Rs. 35500 in a scheme which earns him simple interest at the rate of 15% per annum for two years. At the end of two years he reinvests the principal amount plus interest earned in another scheme which earns him compound interest at the rate of 20% per annum. What will be the total interest earned by Satish over the principal amount at the end of 5 yr?

Options:

A) Rs. 30956.80

B) Rs. 35017.20

C) Rs. 43597.80

D) Rs. 44247.20

E) None of these

Show Answer

Answer:

Correct Answer: D

Solution:

Simple interest $ =\frac{35500\times 15\times 2}{100}=Rs.10650 $

$ \therefore $ Principal for another investment $ =35500+10650 $ $ =Rs.,46150 $ Compound interests $ =46150[ {{( 1+\frac{20}{100} )}^{3}}-1 ] $ $ =46150[ {{( \frac{6}{5} )}^{3}}-1 ] $ $ =46150( \frac{216-125}{125} ) $ $ =\frac{41650\times 91}{125}=Rs\text{.}33597\text{.20} $ Total interest earned $ =Rs.,(10650+33597.20) $ = Rs. 44247.20

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