Find CI on Rs. 8,000 at 15% for 2 years 4 months compounded annually.

Question

PYQPulse · Accepted Answer

Rs. 3,109

PYQPulse · Answer

Explanation: Given: Principal = Rs. 8000 Rate =15% Time = 2 years 4 months Calculation: Time = 2 years + 4 months Rate for 2 years = 15% (15% = 3/20) Rate for 4 months = 5% (5% = 1/20) Now by applying successive method, ∴ The correct answer is Rs. 3109 .

Find CI on Rs. 8,000 at 15% for 2 years 4 months compounded annually.

Answer: D. Rs. 3,109

Explanation