Abhinav invested a certain amount at rate of 8 p.c.p.a. for 5 years and obtained a SI of Rs. 3800. H

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6.Interest

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Abhinav invested a certain amount at the rate of $8$ $p.c.p.a.$ for $5$ years and obtained a $SI$ of $Rs. 3800.$ Had he invested the same amount at the same interest for $2$ years, how much amount (In $Rs.$) would she have obtained as $CI$ at the end of $2$ years?

A

$1520$

B

$1550.5$

C

$1550$

D

$1580.8$

Solution

Principal $=\frac{3800 \times 100}{8 \times 5}=$ Rs. 9500

$\Rightarrow C I = P \left[\left(1+\frac{ R }{100}\right)^{ n }-1\right]$

$=9500\left[\left(1+\frac{8}{100}\right)^{2}-1\right]=$ Rs. 1580.8

Standard 13

Quantitative Aptitude

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