Multiple Choice Questions on Find compound interest on Rs 8000 at 15 per annum for 2 years 4 months compounded annually ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

Find compound interest on Rs 8000 at 15 per annum for 2 years 4 months compounded annually ........

Quantitative Aptitude ( CCS) Compound Interest
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    Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually

    2109

    Incorrect Answer

    3109

    Correct Answer

    4110

    Incorrect Answer

    5109

    Incorrect Answer
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    Explanation:

    Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.
    Amount = Rs'. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)]
    =Rs. [8000 * (23/20) * (23/20) * (21/20)]
    = Rs. 11109. .
    :. C.I. = Rs. (11109 - 8000) = Rs. 3109.

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