Question Bank › General Aptitude › Compound Interest › ABC26GN4146ABC26GN4146 · Compound Interest Subject: General Aptitude · Chapter: Compound Interest · Exam: 2006 · Marks: · Difficulty:
If the rate of interest be 4\% per annum for first year, 5\% per annum for second year and 6\% per annum for third year, then the compound interest of ₹ 10000 for 3 years will be
(a) ₹ 1575.20
(b) ₹ 1600
(c) ₹ 1625.80
(d) ₹ 2000
Answer Explanation $$\begin{aligned} & \text { Amount }=₹ 10000\left[\left(1+\frac{4}{100}\right)\left(1+\frac{5}{100}\right)\left(1+\frac{6}{100}\right)\right] \\ & \quad=₹\left(10000 \times \frac{26}{25} \times \frac{21}{20} \times \frac{53}{50}\right)=₹\left(\frac{57876}{5}\right)=₹ 11575.20 \\ & \therefore \text { C.I. }=₹(11575.20-10000)=₹ 1575.20 . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.
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