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  • Question
  • Madhava invested Rs. 1500 in Company 'B' in 2005 for two years with a condition to get the compound interest at the same rate as 2005. What was the amount of interest earned?


  • Options
  • A. Rs. 4387.75
  • B. Rs. 4578.50
  • C. Rs. 4578.75
  • D. Rs. 4837.50

  • Correct Answer
  • Rs. 4837.50 

    Explanation

    Compound interest = P(1 + r)t - P
    or Compound interest = P[(1 + r)t - 1]
    where P = the principal investment amount (the initial deposit or loan amount)
    r = the annual interest rate
    t = the number of years the money is invested or borrowed for.

    Required amount of interest earned by Madhava in 2007 = 15000[(1+ 15/100)2 - 1]
    = 15000[(115/100)2 - 1]
    = 15000[(23/20)2 - 1]
    = 15000[(23 x 23 /20 x 20) - 1]
    = 15000[ (529/400) - 1]
    = 15000[(529 - 400)/400]
    = 15000 x 129/400
    = 19350/4
    = Rs. 4837.50


  • More questions

    • 1. 
      What is the ratio of the cost of production of item I by company A to the cost of production of item I by company D?

    • Options
    • A. 3 : 5
    • B. 1 : 2
    • C. 2 : 1
    • D. 2 : 3
    • Discuss
    • 2. 
      Given below is an equation where the letters represent digits. (PQ) . (RQ) = XXX. Determine the sum of P + Q + R + X.
      I. X = 9.
      II. The digits are unique. [3]

    • Options
    • A. Statement I alone is sufficient to answer the question.
    • B. Statement II alone is sufficient to answer the question.
    • C. Statement I and Statement II together are sufficient, but neither of the two alone is sufficient to answer the question.
    • D. Either Statement I or Statement I alone is sufficient to answer the question.
    • Discuss
    • 3. 
      Number of students leaving school C from the year 1990 to 1995 is approximately what percentage of number of students taking admission in the same school and in the same year?

    • Options
    • A. 50 %
    • B. 25 %
    • C. 48 %
    • D. 36 %
    • Discuss
    • 4. 
      Rice produced by state C in the year 2006 is approximately what percent of rice produced by state A in the same year?

    • Options
    • A. 69
    • B. 72
    • C. 76
    • D. 82
    • Discuss
    • 5. 
      By what percentage rose production of other States is more than that of the Maharashtra?

    • Options
    • A. 25
    • B. 30
    • C. 20
    • D. 15
    • Discuss
    • 6. 
      What is the approximate average number of females working in night shifts from all the industries together?

    • Options
    • A. 2227
    • B. 2823
    • C. 3326
    • D. 4107
    • Discuss
    • 7. 
      In which month(s) did all the commodities show decline or no increase from the previous months?

    • Options
    • A. July only
    • B. August only
    • C. April and July only
    • D. July and August only
    • Discuss
    • 8. 
      What is the total number of employees from all the departments working in all the organisations together?

    • Options
    • A. 26960
    • B. 28190
    • C. 28910
    • D. 29660
    • Discuss
    • 9. 
      What was the approximate percentage increase in the number of students of Engineering from year 2008 to 2009?

    • Options
    • A. 15
    • B. 17
    • C. 20
    • D. 25
    • Discuss
    • 10. 
      If total percentage contribution of the States having production of roses below twenty thousand is considered, which of the following statements is true?

    • Options
    • A. It is little above 40%
    • B. It is exactly 35%
    • C. It is below 35%
    • D. It is little below 30%
    • Discuss


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