SSC CGL Exam > SSC CGL Questions > In 4 years, at simple interest, the principa...
Start Learning for Free
In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?
- a)21,632
- b)21,218
- c)22,472
- d)22,400
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
In 4 years, at simple interest, the principal increases by 12%. Calcu...
Solution:
Given data:
Principal amount (P) = Rs 20,000
Rate of interest (R) = 12%
Time (T) = 2 years
To calculate the amount received at the end of 2 years on Rs 20,000 at the same rate if compounded annually, we can use the formula for compound interest:
Amount = P(1 + R/100)^T
Step 1: Calculate the compound interest for 2 years using the given formula.
Amount = 20000(1 + 12/100)^2
Amount = 20000(1 + 0.12)^2
Amount = 20000(1.12)^2
Amount = 20000(1.2544)
Amount = 25088
Step 2: Calculate the amount received at the end of 2 years.
Amount = Rs 25,088
The correct answer is option 'B' - 21,218.
Given data:
Principal amount (P) = Rs 20,000
Rate of interest (R) = 12%
Time (T) = 2 years
To calculate the amount received at the end of 2 years on Rs 20,000 at the same rate if compounded annually, we can use the formula for compound interest:
Amount = P(1 + R/100)^T
Step 1: Calculate the compound interest for 2 years using the given formula.
Amount = 20000(1 + 12/100)^2
Amount = 20000(1 + 0.12)^2
Amount = 20000(1.12)^2
Amount = 20000(1.2544)
Amount = 25088
Step 2: Calculate the amount received at the end of 2 years.
Amount = Rs 25,088
The correct answer is option 'B' - 21,218.
Free Test
FREE
| Start Free Test |
Community Answer
In 4 years, at simple interest, the principal increases by 12%. Calcu...
Given,
RT = 12
Solving which we get:
R = 3% (T = 4 years)
The rate of interest is 3% in this situation.
Condition 2:
P = Rs. 20,000
R = 3%
T = 2 years annually compounded interest
Formula used:
A = P [1 + (R/100)]t
A = 20,000(1 + 0.03)²
A = 20,000(1.03)²
A = Rs. 21,218
Attention SSC CGL Students!
To make sure you are not studying endlessly, EduRev has designed SSC CGL study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in SSC CGL.
|
Explore Courses for SSC CGL exam
|
|
Top Courses for SSC CGLView all
In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer?
Question Description
In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer?.
In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer?.
Solutions for In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for SSC CGL.
Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free.
Here you can find the meaning of In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer?, a detailed solution for In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In 4 years, at simple interest, the principal increases by 12%. Calculate the amount (in Rs) received at the end of 2 years on Rs 20,000 at the same rate if compounded annually?a)21,632b)21,218c)22,472d)22,400Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice SSC CGL tests.
|
|
Explore Courses for SSC CGL exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup