Question

Find the amount on ₹ 40,000 in 2 years, when the rates of interest for two successive years are 14 % and 12 % successively.

• A. ₹ 55,064
• B. ₹ 53,082
• C. ₹ 54,042
• D. ₹ 51,072

Answer 1

The correct option is D

₹ 51,072

P = ₹ 40,000 T = 2 years , $R_1$ = 14 % and $R_2$ = 12 %

A = $P(1+\frac{R_1}{100})(1+\frac{R_2}{100})$

= $40,000(1+\frac{14}{100})(1+\frac{12}{100})$

= $40,000\left(\frac{114}{100}\right)\left(\frac{112}{100}\right)$

= ₹ 51,072