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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    The compound interest accrued on an amount at the end of 2 yr at the rate of 16% per annum is Rs. 3041.28. What is the amount?

    A) Rs. 8000

    B) Rs. 8800

    C) Rs. 9000

    D) Rs. 9900

    Correct Answer: B

    Solution :

    [b] \[\therefore \] \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\] \[\Rightarrow \]   \[P=3041.28=P{{\left( 1+\frac{16}{100} \right)}^{2}}\] \[=P=\frac{3041.28\times 625}{216}=\text{Rs}.\,8800\]


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