A person deposited Rs. 15,600 in a fixed deposit at 10% per annum simple interest. After every second year he adds his interest earned to the principal. The interest at the end of 4 years is:
A. Rs. 6,655
B. Rs. 6,864
C. Rs. 3,975
D. Rs. 3,744
Answer: Option B
Solution(By Examveda Team)
$$\eqalign{ & {\text{S}}{\text{.I}}{\text{. for 2 years}} \cr & = \frac{{15600 \times 2 \times 10}}{{100}} \cr & = 3120 \cr & {\text{Principal for next 2 years}} \cr & = 15600 + 3120 \cr & = 18720 \cr & {\text{S}}{\text{.I}}{\text{. for next 2 years}} \cr & = \frac{{18720 \times 10 \times 2}}{{100}} \cr & = 3744 \cr & {\text{Total S}}{\text{.I}}{\text{.}} \cr & = 3120 + 3744 \cr & = 6864 \cr} $$Related Questions on Interest
Find the simple interest on Rs. 5200 for 2 years at 6% per annum.
A. Rs. 450
B. Rs. 524
C. Rs. 600
D. Rs. 624
Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.
A. Rs. 1380
B. Rs. 1290
C. Rs. 1470
D. Rs.1200
E. Rs. 1240
Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.
A. 8%
B. 9%
C. 10%
D. 11%
E. 12%
Rs. 2100 is lent at compound interest of 5% per annum for 2 years. Find the amount after two years.
A. Rs. 2300
B. Rs. 2315.25
C. Rs. 2310
D. Rs. 2320
E. None of these
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