Arithmeticmedium · Past Paper
If the rate of interest is 5% for the first year and 6% for the second year, find the compound interest on Rs 5000 for 2 years.
ARs 565
BRs 550
CRs 580
DRs 600
✓ Correct Answer: A — Rs 565
A = 5000(1.05)(1.06) = 5565. CI = 5565 - 5000 = 565.
Share this question
More from Arithmetic
- Three numbers are in the ratio 2:3:5 and the sum of their squares is 608. Find the numbers.
- The population of a city increases by 5% annually. If the current population is 185220, what was it 3 years ago?
- The ratio of the ages of Ram and Shyam is 4:5. If the sum of their ages is 81 years, find Shyam's age.
- A sum of money double itself in 4 years at compound interest. In how many years will it become 8 times itself?
- If interest is compounded quarterly, the rate used in the formula is: