Multiple choice

Mohan invested a sum of Rs. 12,500 at 12% per annum compound interest. He received an amount of Rs. 15,680 after x years. Then the value of x is _____.

  1. 1

  2. 4

  3. 3

  4. 2
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

15680 = 12500 * (1 + 12/100)^x. 15680/12500 = 1.2544. (1.12)^2 = 1.2544. Thus x = 2.

AI explanation

Using the compound interest formula Amount = Principal * (1 + R/100)^x, we substitute the given values to get 15680 = 12500 * (1 + 12/100)^x. This simplifies to 15680/12500 = (1.12)^x, which further reduces to 1.2544 = (1.12)^x. Since 1.12 * 1.12 = 1.2544, the value of x is 2.

Keep practicing — related questions