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
New: SSC CHSL Tier 2 answer key released | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
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.
Related Questions
Know More about
Staff Selection Commission Combined High ...
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Get Updates Brochure
Your Staff Selection Commission Combined Higher Secondary Level Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Trending Articles around SSC CHSL
