ExamCompetition Your Success, Our Mission
Login Register
Question discussion

Ankur invested a sum of Rs. 16800 for four years in a scheme A. The rate of interest in scheme A is 8% per annum compounded yearly for the…

102114Medium 2 replies 1,326 views
14
Ankur invested a sum of Rs. 16800 for four years in a scheme A. The rate of interest in scheme A is 8% per annum compounded yearly for the first two years and 10% for the third and fourth years compounded yearly. What will be the compound interest at the end of 4 years ?
  • ARs. 6810
  • BRs. 6910
  • CRs. 6540
  • DRs. 6210
Answer not set
Join the discussion Report an error

Discussion 2

Top votedOldestNewest
0
CCommunity
Solution
We know that, in compound interest, amount A :
=> $A = P (1 + \frac{R}{100})^T$
=> $A = 16800 (1 + \frac{8}{100})^2 (1 + \frac{10}{100})^2$
=> $A = 16800 \times (\frac{27}{25})^2 \times (\frac{11}{10})^2$
=> $A = 23710$
$\therefore$ C.I. = 23710 - 16800
= Rs. 6,910
0
CCommunity
Solution
We know that, in compound interest, amount A :
=> $A = P (1 + \frac{R}{100})^T$
=> $A = 16800 (1 + \frac{8}{100})^2 (1 + \frac{10}{100})^2$
=> $A = 16800 \times (\frac{27}{25})^2 \times (\frac{11}{10})^2$
=> $A = 23710$
$\therefore$ C.I. = 23710 - 16800
= Rs. 6,910