Question 65

The compound interest on a certain sum at 15% p.a. compounded yearly for $$2\frac{1}{3}$$ years is ₹9327. The sum is:

Solution

Interest rate = 15 % for 1st and 2nd year

and $$\frac{1}{3\ }of\ 15\ \%\ for\ 3rd\ year$$; i.e; 5%

so, 15% = 3/20 and 5 % = 1/20

As we know, Amount - Principal = Interest

11,109 units - 8000 units = 3109 units

Compound Interest = ₹9327

i.e; 3109 units = ₹9327

1 units = ₹3

Principal = 8000 units

i.e; 8000$$\times\ 3=₹24000$$

Hence, Option A is correct.

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

CAT Quant Questions | CAT Quantitative Ability

CAT Averages Mixtures Alligations Questions CAT Logarithms, Surds and Indices Questions CAT Logarithms Questions CAT Profit And Loss Questions CAT Venn Diagrams Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Puzzles Questions CAT Games and Tournamnents Questions CAT Quant Based LR Questions CAT Miscellaneous LR Questions CAT Maxima-Minima Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Vocabulary Questions CAT Odd One Out Questions CAT Para Jumbles Questions CAT Verbal Ability Questions CAT Para Summary Questions

Follow us on

Boost your Prep!

Download App