Multiple choice

The compound interest earned by Kanishk on a certain amount at the end of two years at the rate of 8 p.c.p.a. was Rs.1414.40. What was the total amount that Kanishk got back at the end of two 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

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Compound interest for 2 years at 8%: CI = P[(1 + 8/100)² - 1] = P[1.1664 - 1] = 0.1664P. Given CI = Rs 1414.40, so P = 1414.40/0.1664 = Rs 8500. Total amount = Principal + CI = 8500 + 1414.40 = Rs 9914.40. This matches option B exactly.

Keep practicing — related questions