Question 11
A sum of Rs 6000 is borrowed at compound interest at the rate of 8% per annum. What will be the amount (in Rs) after 2 years?
Solution
Principal sum = Rs. 6000
Rate of interest = 8% and time period = 2 years
Amount under compound interest = $$P(1+\frac{R}{100})^T$$
= $$6000(1+\frac{8}{100})^2$$
= $$6000(1+\frac{2}{25})^2=6000(\frac{27}{25})^2$$
= $$6000\times\frac{729}{625}$$
= $$9.6\times729=Rs.$$ $$6998.4$$
=> Ans - (A)
Get AI Help?
Create a FREE account and get:
- Free SSC Study Material - 18000 Questions
- 230+ SSC previous papers with solutions PDF
- 100+ SSC Online Tests for Free
