Question : What is the compound interest on a sum of INR 25,000 after three years at a rate of 12 percent per annum interest compounded yearly?
Option 1: INR 10,123.20
Option 2: INR 9,824.00
Option 3: INR 10,520.00
Option 4: INR 9,956.86
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: INR 10,123.20
Solution : Principal amount, $P$ = INR 25,000 Rate of interest, $R$ = 12 percent per annum Time of investment, $T$ = 3 years When compounded annually, Compound Interest = $P(1+\frac{R}{100})^{T}-P$ = $25000(1+\frac{12}{100})^{3}-25000$ = $25000(\frac{28}{25})^3-25000$ = $\frac{28^3\times 8}{5}-25000$ = 35123.2 – 25000 = 10123.2 Hence, the correct answer is INR 10,123.20.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : A sum of INR 10,500 amounts to INR 13,650 in 2 years at a certain rate percent per annum simple interest. The same sum will amount to what in 1 year at the same rate if the interest is compounded half yearly (nearest to INR 1 )?
Question : The compound interest (compounding annually) on a certain sum at the rate of 8% per annum for two years is INR 6,656. What would be the simple interest on the same sum at the same rate of interest for two years?
Question : If interest is compounded half-yearly, then find the compound interest on INR 8,000 at the rate of 20% per annum for 1 year.
Question : At what rate percent per annum will a sum of INR 15, 625 amount to INR 21, 952 in three years, if the interest is compounded annually?
Question : The compound interest on a sum of INR 20,000 at 15% p.a. for $2 \frac{2}{3}$ years, interest compounded yearly, is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile