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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. 
      The ratio of the total amount spent on football to that spent on Hockey was :

    • Options
    • A. 1 : 15
    • B. 1 : 1
    • C. 15 : 1
    • D. 3 : 2
    • Discuss
    • 2. 
      If 60% boys and 70% girls pass in their respective courses, then total pass percentage is :

    • Options
    • A. 58%
    • B. 66%
    • C. 54%
    • D. 62%
    • Discuss
    • 3. 
      How is P related to J?
      I. M is the brother of P and T is the sister of P
      II. P's mother is married to J's husband who has one son and two daughter.

    • Options
    • A. if the data in statement I alone is sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
    • B. if the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
    • C. if the data either in statements I alone or in statement II alone are sufficient to answer the question; and
    • D. if the data given in both the statement I and II together are not sufficient to answer the question; and
    • Discuss
    • 4. 
      In which of the following years was the increase/ decrease in percent profit from the previous year the minimum?

    • Options
    • A. 1994
    • B. 1996
    • C. 1997
    • D. 1995
    • Discuss
    • 5. 
      What is the ratio of the number of men working in the HR department to that of the women working in the same?

    • Options
    • A. 1 : 5
    • B. 2 : 3
    • C. 4 : 7
    • D. 9 : 11
    • Discuss
    • 6. 
      In which of the following years, the imports made by Company A was exactly equal to average imports made by it over the given years?

    • Options
    • A. 1992
    • B. 1993
    • C. 1994
    • D. 1995
    • Discuss
    • 7. 
      The number of children in 1988 is:

    • Options
    • A. 31236
    • B. 125491
    • C. 14546
    • D. 21456
    • Discuss
    • 8. 
      In which department of the factory number of employees remained nearly same during the years from 2003 to 2008?

    • Options
    • A. Production
    • B. Sale
    • C. Research and Development
    • D. Administration and Accounts
    • Discuss
    • 9. 
      For course E, the number of girls is how much percent more than the number of boys for course E?

    • Options
    • A. 250
    • B. 350
    • C. 150
    • D. 80
    • Discuss
    • 10. 
      The ratio of the land used for rice and barley is :

    • Options
    • A. 3 : 1
    • B. 1 : 2
    • C. 2 : 1
    • D. 3 : 2
    • Discuss


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