Compound Interest Practice Test 5

Question : 39 of 40

Marks: +1, -0

A sum of money placed at compound interest amounts to Rs. 800 in 4 years and to Rs. 840 in 5 years. In 6 years this will amount to :

Solution:

Here, simple interest of Rs. 800 for 1 year = 840 – 800 = Rs. 40
Hence, rate

={40×100}/{800×1}=5%

Since, required amount

=840(1+5/100)

=840×21/20=882

Go to Question:

Prev Question

Next Question