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The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.

Correct answer: B. Rs.19,828.80

  • A. Rs.18,828.80
  • B. Rs.19,828.80
  • C. Rs.18,028.80
  • D. Rs.17,828.80
  • E. None of these

Explanation

For two years at 8%, compound interest is P x [(1.08)^2 - 1] = P x 0.1664. Therefore P = Rs. 2,828.80/0.1664 = Rs. 17,000, and the total amount is Rs. 17,000 + Rs. 2,828.80 = Rs. 19,828.80. Option a, Rs. 18,828.80, subtracts Rs. 1,000 from the correct total.

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