Question
Quantitative Ability and Data Interpretation Question on SI & CI
The simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is Rs.6500. What would be the compound interest accrued on that principal at the rate of 8% per year in 2 years ?
A
Rs.1040
B
Rs.1020
C
Rs.1060
D
Rs.1060
Answer
Rs.1040
Explanation
Solution
The correct option is (A) : Rs.1040.