Question : The compound interest on Rs. 4000 for 4 years at 10% per annum will be:
Option 1: Rs. 1856.40
Option 2: Rs. 1600
Option 3: Rs. 1856
Option 4: Rs. 1756.60
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Rs. 1856.40
Solution : Here p = Rs. 4000, r = 10%, t = 4 years. We know the compound interest = $p[(1+\frac{r}{100})^t–1]$ $=4000[(1+\frac{10}{100})^4–1]$ $=4000[(\frac{11}{10})^4–1]$ $= 4000[(\frac{14641}{10000})–1]$ $= 4000[\frac{4641}{10000}]$ $=1856.4$ So, the compound interest is Rs. $1856.40$. Hence, the correct answer is Rs. 1856.40.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : The compound interest on Rs. 24000 at 10% per annum for $1\frac{1}{2}$ years, interest being compounded semi-annually is:
Question : The compound interest on Rs.1000 at 10% per annum for 3 years in (Rs) is:
Question : The compound interest on Rs. 30000 at 7% per annum for $n$ years is Rs. 4347. The value of $n$ is:
Question : The difference between the compound interest and simple interest on Rs. 5,000 for 2 years at 8% per annum payable yearly is:
Question : The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile