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 1 answer key 2024 out | 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 “”.
