Arithmetic Ability
Compound Interest

54 / 134

Q.

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  ?

View Answer

Correct choice: B

Explanation:

Let the sum be Rs. P P{ (1+8/100)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
54 / 134