Question

Ankur invested a sum of rs.16800 for four years in a scheme



a. The rate of interest in scheme a is 8% per annum compounded yearly for the first two years and 10% for the third and fourth years compounded yearly. What will

Answer 1

https://cracku.in/34-ankur-invested-a-sum-of-rs-16800-for-four-years-in-x-sbi-clerk-2014-1

complete answer..↑↑↑↑

Answer 2

Given:

Principal = Rs.16800

Rate of interest = 8% for first 2 years and 10% for next 2 years.

Solution:

Interest at the end of first year = Pnr/100 = 16800 * 8/100 = Rs.1344

On compounding yearly, the interest is added to the Principal amount.  

So, Interest at the end of second year will be calculated for the amount 16800+1344 = 18144;

So, second interest = 18144*8/100 = Rs.1451

Interest at the end of third year will be calculated for the amount 16800+1344+1451 = 19595;

So, Third interest = 19595*10/100 = Rs.1960

Interest at the end of fourth year will be calculated for the amount 16800+1344+1451+1960 = 21550;

So, Fourth interest = 21550*10/100 = Rs.2155

Sum of all interest is the Final compound interest earned = 1344+1451

1960+2155 = Rs.6910