Symbiosis National Aptitude Test SNAP 2013 Paper

Question : 3 of 150

Marks: +1, -0

The simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is ₹ 6500. What would be the compound interest accrued on that principal at the rate of 8% per year in 2 years?

₹ 1040
₹ 1020
₹ 1060
₹ 1200

Validate

Solution:

P =

{SI×100}/{R×T}

{6500×100}/{8×13}

= 6250
CI = 6250

(1+8/{100})^2

- 6250
= ₹ 1040

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