Question

Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5995. What is the SI on the same money at 8% per annum for 6 years ?
A) Rs. 5989
B) Rs. 6540
C) Rs. 7844
D) Rs. 6789

Answer 1

Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5995. What is the SI on the same money at 8% per annum for 6 years ?

A) Rs. 5989B) Rs. 6540C) Rs. 7844D) Rs. 6789

Answer:   B) Rs. 6540 

Explanation:

Given C.I = 5984, R = 20% , T = 2yrs

 C.I = P[(1+(20100)2)−1]C.I = P1+201002-1

5984 = 

=> P = (5995x25)/11

P = Rs. 13625

Now S.I = PTR/100

SI = (13625 x 8 x 6)/100 = Rs. 6540

Answer 2

Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5995. What is the SI on the same money at 8% per annum for 6 years ?
A) Rs. 5989
B) Rs. 6540✅✅✅
C) Rs. 7844
D) Rs. 6789