Challenger App

No.1 PSC Learning App

1M+ Downloads
The difference between the compound interest, compounded annually, and the simple interest earned on a certain sum of money in two years at 10% interest per annum, is ₹197.2. Find the sum invested.

A₹19,720

B₹17,720

C₹16,720

D₹18,720

Answer:

A. ₹19,720

Read Explanation:

image.png

Related Questions:

Raghu invests 5,00,000 in the name of his daughter, who is 16 years old, in a scheme that pays 5% compound interest per annum, compounded annually. What will be the total amount due to the daughter when she turns 18 years old?
At what percent per annum will Rs 3,000 amount to Rs. 3,993 in 3 years if the interest rate is compounded annually ?
Find the compound interest on ₹80,000 at 10% per annum for 2 years, compounded annually.
A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in how many years at the same rate of interest per annum?
A sum of ₹14000 is lent at compound interest (interest is compounded annually) for 3 years. If the rate of interest is 10%, then what will be the compound interest?