Question

What sum will amount to Rs. $65,934$ in $2$ years C.I., if the rates are $10$ per cent and $11$ per cent for the successive years?

• A. $53,000$
• B. $54,000$
• C. $55,000$
• D. $60,000$

Answer 1

Answer: (B)

$54,000$

$A_1=P(1+\frac{10}{100}{)}^1=P\times 1.1$

$A_2=A_1(1+\frac{11}{100}{)}^1=P\times 1.221$

$⟹65934=1.221P⟹p=54,000$

Hence sum$=Rs.54,000$