Quant Exam  >  Quant Questions  >  Arun invested an amount of Rs. 2000 in a fixe... Start Learning for Free
Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit? 

  • a)
    2034.2

  • b)
    2163.2

  • c)
    2232.4

  • d)
    2412.0

Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 ye...
20,000*(104/100)² = 21632...(principle + Interest = Amount)...since it is fixed deposit, we receive amount after maturity
Free Test
Community Answer
Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 ye...
Given data:
Principal amount (P) = Rs. 20000
Time period (t) = 2 years
Rate of interest (r) = 4% p.c.p.a.

Formula used:
Amount (A) = P(1 + r/100)^t

Calculation:
As per the given data,
P = Rs. 20000
t = 2 years
r = 4% p.c.p.a.

Using the formula,
A = P(1 + r/100)^t
A = 20000(1 + 4/100)^2
A = 20000(1.04)^2
A = 20000(1.0816)
A = Rs. 21632

Therefore, the amount that Arun will get on maturity of the fixed deposit is Rs. 21632. Hence, option (B) is the correct answer.
Explore Courses for Quant exam

Similar Quant Doubts

Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer?
Question Description
Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer?.
Solutions for Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Arun invested an amount of Rs. 2000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?a)2034.2b)2163.2c)2232.4d)2412.0Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Quant tests.
Explore Courses for Quant exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev