Compound interest earned by Shivam on a certain amount at end of 2 years at rate of 8 ,p.c.p.a. was

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6.Interest

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The compound interest earned by Shivam on a certain amount at the end of $2$ years at the rate of $8 \,p.c.p.a.$ was $Rs. 1414.4 .$ What was the total amount that Shivam got back at the end of $2$ years in the form of principal plus interest earned (In $Rs.$) ?

A

$9414.4$

B

$9914.4$

C

$9014.4$

D

$8914.4$

Solution

$1414.4= P \left[\left(1+\frac{8}{100}\right)^{2}-1\right] \Rightarrow 1414.4= P \times(1.1664-1)$

$\Rightarrow P =\frac{1414.4}{0.1664}= Rs .8500$

$\therefore$ Amount $=8500+1414.4= Rs .9914 .4$

Standard 13

Quantitative Aptitude

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