Question : The compound interest on Rs. 64,000 for 3 years, compounded annually at 7.5% p.a. is:
Option 1: Rs. 14,400
Option 2: Rs. 15,705
Option 3: Rs. 15,507
Option 4: Rs. 15,075
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. 15,507
Solution : Amount = $P(1+\frac{R}{100})^{n}$ to calculate the answer. Where P is the principal amount, R is the rate of interest per annum, and n is the time in years. Amount = $64000(1+\frac{7.5}{100})^{3}$ = Rs. 79,507 CI = Rs. 79,507 – Rs. 64,000 = Rs.15,507 Hence, the correct answer is Rs. 15,507.
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 simple interest on a certain sum of money for 2 years at 5% is Rs. 1600. The compound interest at the same rate after 3 years (interest compounded annually) is:
Question : The difference between Simple and Compound Interest (compounded annually) on Rs. 40,000 for 3 years at 8% per annum is:
Question : In 3 years, Rs. 3000 amounts to Rs. 3993 at $x$% compound interest compounded annually. The value of $x$ is ___.
Question : A sum of money invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more in 2 years if interest is compounded half-yearly. The sum is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile