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Simple & Compound Interest · Question 24 of 60

Question 24

HardOriginal question

Zoya invests ₹10,000 at 8% per annum simple interest for 3 years. She then invests the whole amount she receives at 10% per annum simple interest for 2 more years. How much does she have at the end?

Options for question 24

Show the answer and explanation
CorrectNot quiteAnswer D

Correct answer: D

Explanation

  1. After 3 years: interest = 24% of ₹10,000 = ₹2,400, so she has ₹12,400.

  2. Next 2 years: interest = 20% of ₹12,400 = ₹2,480.

  3. Final amount = ₹12,400 + ₹2,480 = ₹14,880.

Worth noting

₹14,400 applies the 10% to the original ₹10,000 instead of the ₹12,400 she reinvested. ₹4,880 is the total interest, not what she has.

Concept
Reinvesting a simple-interest amount
Typical time
90 s
Your time
—
The rule this testsSimple interest
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