SSC CPO SI and ASI Model Paper 6

Question : 122 of 200

Marks: +1, -0

Ankur invested a sum of ` 16,800 for 4 years in a scheme A. The rate of interest in the scheme A is 8% per annum compounded yearly for the first 2 years, and 10% per annum compounded yearly for the third and fourth year. What will be the compound interestat the end of 4 years?

6,810
6,910
6,540
6,210

Validate

Solution:

(2) Amount at the end of 4 years

= 16800[1+8/100]^2 [1+ 10/100 ]^2

= 23,710.58
C.I. for 4 years = 23710.58 -16800 = 6,910.58 ≈ 6,910

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