CLAT Sample Paper CLAT Sample Paper-2

  • question_answer
    A sum of Rs 8000, invested at compound interest, doubles in 5 yr. After 2 yr it becomes

    A)  Rs 964000        

    B)  Rs 128000

    C)  Rs 78000         

    D)  None of these

    Correct Answer: B

    Solution :

    According to the question,                       \[16000=8000{{\left( 1+\frac{r}{100} \right)}^{5}}\] \[\Rightarrow \,\,\,\,\,2={{\left( 1+\frac{r}{100} \right)}^{5}}\] After 2 yr, \[A=8000{{\left( 1+\frac{r}{100} \right)}^{20}}\] \[=8000{{\left[ {{\left( 1+\frac{r}{100} \right)}^{5}} \right]}^{4}}\] \[=8000\times {{2}^{4}}\] [from Eq. (i)] = Rs 128000                       

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