Multiple Choice Questions on Ashok invested an amount of Rs 8000 in a fixed deposit scheme for 2 years at compound interest of 5 ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Ashok invested an amount of Rs 8000 in a fixed deposit scheme for 2 years at compound interest of 5 ...........

Quantitative Aptitude ( CCS) Simple Interest
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    Ashok invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest of 5% per annum. How much amount will Ashok get on maturity of the fixed deposit ?

    Rs. 8600

    Incorrect Answer

    Rs. 8620

    Incorrect Answer

    Rs. 8800

    Incorrect Answer

    Rs. 8820

    Correct Answer
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    Explanation:

    Amount = 8000 *1+(5/100)2

    = 8000 *21/20 * 21/20 = Rs.8820

    Hence, option 4 is the correct answer.

    By: Amit Kumar
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