Question

The C.I. on Rs. $\mathrm{16,000}$ at $15\%$ p.a. for $2\frac{1}{3}$ years is:

• A. Rs. $\mathrm{6,418}$
• B. Rs. $\mathrm{5,000}$
• C. Rs. $\mathrm{22,218}$
• D. Rs. $\mathrm{6,218}$

Answer 1

The correct option is D Rs. $\mathrm{6,218}$

$P=$ Rs. $16000$ ,$R=15$, $T=$ $2\frac{1}{3}$ years

$A=P{(1+\frac{R}{100})}^n(1+\frac{TR}{100})$

$A=16000\times {(1+\frac{15}{100})}^2\times (1+\frac{\frac{1}{3}\times 15}{100})$

$A=16000\times \frac{115}{100}\times \frac{115}{100}\times \frac{105}{100}$

$A=$ Rs. $22,218$

CI $=22,218-16,000=$ Rs. $6218$