The compound interest earned by Suresh on a certain amount at the end of two years at the rate of 8 p.c.p.a was Rs. 1,414.4. What was the t… — Answer & Discussion

The compound interest earned by Suresh on a certain amount at the end of two years at the rate of 8 p.c.p.a was Rs. 1,414.4. What was the total amount that Suresh got back at the end of two years in the form of principal plus interest earned?

ARs. 9,414.4
BRs. 9,914.4
CRs. 9,014.4
DRs. 8,914.4

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Discussion 3

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CCommunity09 Apr 2019

Solution
Compound Interest after 2 years = 1414.4
$P(1+\frac{8}{100})^2 - P$ = 1414.4
=> $P(1.08)^2 - P$ = 1414.4
=> 0.1664P = 1414.4
=> P = 8500
Therefore amount = 8500 + 1414.14 = 9914.14

CCommunity09 Apr 2019

9914.14

CCommunity02 May 2019

Solution
Compound Interest after 2 years = 1414.4
$P(1+\frac{8}{100})^2 - P$ = 1414.4
=> $P(1.08)^2 - P$ = 1414.4
=> 0.1664P = 1414.4
=> P = 8500
Therefore amount = 8500 + 1414.14 = 9914.14