4 Views

Question : The compound interest on Rs.1000 at 10% per annum for 3 years in (Rs) is:

Option 1: Rs. 1331

Option 2: Rs. 331

Option 3: Rs. 300

Option 4: Rs. 1300


Team Careers360 5th Jan, 2024
Answer (1)
Team Careers360 12th Jan, 2024

Correct Answer: Rs. 331


Solution : Given:
Principal = Rs.1000
Rate of Interest = 10%
Time = 3 years
Formula used:
CI = $P(1+\frac{R}{100})^{n} - P$ where n is the number of years.
Calculation:
C = $1000(1+\frac{10}{100})^{3} - 1000$
CI = $1000(1.331) -1000$
CI = $1331 - 1000$
CI = Rs. 331
Hence, the correct answer is Rs. 331.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books