Multiple Choice Questions on Arjun lent out a sum of money at compound interest rate of 30 per annum for 2 years It would fe........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Arjun lent out a sum of money at compound interest rate of 30 per annum for 2 years It would fe...........

Quantitative Aptitude ( CCS) Compound Interest
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    Arjun lent out a sum of money at compound interest rate of  30% per annum for 2 years .It would fetch Rs. 500 more if interest is compounded half –yearly.

    Rs.8000

    Incorrect Answer

    Rs.8041.12

    Incorrect Answer

    Rs.8145

    Incorrect Answer

    Rs.8333.33

    Correct Answer
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    Explanation:

    P[1+(15/100)]^4  – P[1 +(30/100)]^2 = 500
    => P = 8333.33
    Hence, option 4 is the correct answer.

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