Multiple choice

The compound interest earned by Suresh on a certain amount at the end of 2 years at the rate of 8% per annum was Rs. 1414.40. What was the total amount that Suresh got back at the end of 2 years in the form of principal plus interest earned?

  1. Rs. 9414.40

  2. Rs. 9914.40

  3. Rs. 9014.40

  4. Rs. 8914.40
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

CI = P * ((1+r/100)^n - 1). 1414.40 = P * ((1.08)^2 - 1) = P * (1.1664 - 1) = P * 0.1664. P = 1414.40 / 0.1664 = 8500. Total amount = P + CI = 8500 + 1414.40 = 9914.40.

AI explanation

The total amount received is the principal plus the compound interest of Rs. 1414.40. Using the compound interest formula, the amount equals Principal multiplied by (1 plus 8 divided by 100) squared, so Amount equals Principal multiplied by 1.1664. This means the compound interest equals Principal multiplied by 0.1664, so 1414.40 divided by 0.1664 equals a principal of Rs. 8500. The total amount Suresh got back is 8500 plus 1414.40, which equals Rs. 9914.40.

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