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← Back to Mathematical Skills
Mathematical Skills
| Simple Interest and Compound Interest
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Q. No. 31:
What would be the compound interest accrued on an amount of Rs 8400 at the rate of 12.5% per annum at the end of 3 years ? (Rounded off two digits after decimal).
A :
Rs 4205.62
B :
Rs 2584.16
C :
Rs 3560.16
D :
Rs 3820.14
Solution
Answer:
C
CI = P(1+ r/100)
t
- P
=> 8400(1 + 12.5/100)
3
- 8400
=> 8400 (1 + 1/8)
3
- 8400
=> 8400 [729/512 - 1]
=> 113925/32
=> 3560.16.
31
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Simple Interest and Compound Interest
Easy
Moderate
Difficult