ABC26GN4121 · Compound Interest

Subject: General Aptitude · Chapter: Compound Interest · Exam: · Marks: · Difficulty:

After 3 years, how much compound interest will be obtained on ₹7800 at the interest rate of 5% per annum? (R.R.B., 2009)

Answer

SELF-PRACTICE — the source book printed no answer.

Nothing is invented here, so this question has no answer on record.

Explanation

Amount $=₹\left[7800 \times\left(1+\frac{5}{100}\right)^{3}\right]=₹\left(7800 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20}\right)=₹\left(\frac{361179}{40}\right)=₹9029.475$. ∴ C.I. $=₹(9029.475-7800)=₹1229.475$.

Explanation as extracted from the printed page; notation may be imperfect.

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