Aptitude | Compound Interest | Question 4
Sagar has a sum of Rs.8000. He lends it for 20% per annum at compound interest. In how much time the sum of the amount will be Rs.13824?
(A)
2
(B)
1
(C)
3
(D)
4
Answer: (C)
Explanation:
3824 = 8000 x (1 + 20/100)n
13824/8000 = (120/100)n
(24/20)3 = (12/10)n
(12/10)3 = (12/10)n
=> n = 3 years
Quiz of this Question
Please comment below if you find anything wrong in the above post
Last Updated :
28 Jun, 2021
Like Article
Save Article
Share your thoughts in the comments
Please Login to comment...