NIFT UG 2012 Question Paper with solutions

Question : 137 of 150

Marks: +1, -0

The simple interest on a sum of ₹4800 for 2 years is ₹768. What will be the compound interest on the same sum at the same rate and for the same period?

₹798.72
₹870.75
₹920.69
₹884.20

Validate

Solution:

r=\;\;{SI×100}/{P×t}={768×100}/{4800×2

=8\%

{A}=P(1+\;\;{r}/{100})^{t}

=4800(1+\;\;{8}/{100})^{2}

=4800×{27×27}/{25×25

=\;\;{192×729}/{25}

{CI}=\;\;{192×729}/{25}-4800

=\;\;{192×729-4800×25}/{25}

=\;\;{139968-120000}/{25}

={19968}/{25

{CI}=₹798.72

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