Multiple Choice Questions on The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8 p........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8 p...........

Quantitative Aptitude ( CCS) Compound Interest
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    The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned  ?

    Rs. 17828.80

    Incorrect Answer

    Rs. 18828.80

    Incorrect Answer

    Rs. 20828.80

    Incorrect Answer

    Rs. 19828.80

    Correct Answer
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    Explanation:

    Let the sum be Rs. P
    P{ (1+8100)2 - 1 } = 2828.80

    It is in the form of  a2−b2 = (a+b)(a−b)

    P(8/100)(2 + 8/100) = 2828.80

    P = 2828.80 / (0.08)(2.08)

    = 1360/0.08 = 17000

    Principal + Interest = Rs.19828.80

    Hence, option 4 is the correct answer.

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