Multiple Choice Questions on The compound interest on a certain sum of money at 5 per annum for 2 years is Rs 246 The simple inte........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The compound interest on a certain sum of money at 5 per annum for 2 years is Rs 246 The simple inte...........

Quantitative Aptitude ( CCS) Compound Interest
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    The compound interest on a certain sum of money at 5% per annum for 2 years is Rs. 246. The simple interest on the same sum for 3 years at 6% per annum is

    Rs. 435

    Incorrect Answer

    Rs. 450

    Incorrect Answer

    Rs. 430

    Incorrect Answer

    Rs. 432

    Correct Answer
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    Explanation:

    Effective Rate of CI for 2 years
    = 5 + 5 + (5 × 5)/100 = 10.25%
    Effective Rate of SI for 3 years = 6 × 3 = 18%
    Required SI = 246/10.25 × 18 = 432

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