Multiple Choice Questions on Asha invested a certain sum of money at 10 per annum simple rate of interest and at the end of........... for IBPS RRB - Officers Exam Preparation

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Multiple Choice Questions

Asha invested a certain sum of money at 10 per annum simple rate of interest and at the end of...........

Quantitative Aptitude(IBPS RRB PO) Compound Interest
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     Asha invested a certain sum of money at 10% per annum simple rate of interest and at the end of 2 years she received Rs. 36000. If she had invested this amount at 20% per annum compound interest, how much interest would she have earned on this amount at the end of 2 years?

    Rs. 12600

    Incorrect Answer

    Rs. 13200

    Correct Answer

    Rs. 14400

    Incorrect Answer

    Rs. 13560

    Incorrect Answer

    None of these

    Incorrect Answer
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    Explanation:

    Let money invested = P
    SI = PRT/100
    or, 36000-P = P*10*2/100
    or, P = 30000 Rs.
    Now, CI = 30000* (20+20+20*20/100)% = Rs.13200

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