4 Views

Question : What is the Compound interest on INR 25,000 for 3 years at 10% per annum compounded yearly?

Option 1: INR 8,125

Option 2: INR 8,000

Option 3: INR 8,200

Option 4: INR 8,275


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: INR 8,275


Solution : We know, $\text{Total amount}=\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$
$⇒\text{Total amount}= 25000(1+\frac{10}{100})^{3}$
$⇒\text{Total amount}= 25000×\frac{11}{10}×\frac{11}{10}×\frac{11}{10}= 33275$
$\therefore$ Compound Interest = Total amount – Principal = 33275 – 25000 = INR 8,275
Hence, the correct answer is INR 8,275.

How to crack SSC CHSL

Candidates can download this e-book to give a boost to thier preparation.

Download Now

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