Question : At what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?
Option 1: 3
Option 2: $2\frac{1}{2}$
Option 3: 2
Option 4: $3\frac{1}{2}$
New: SSC MTS Tier 1 Answer key 2024 out
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 3
Solution : Let the time be $n$. We know, $\text{Total Amount}=\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$ $⇒1331=1000(1+\frac{10}{100})^n$ $⇒1331=1000(\frac{110}{100})^n$ $⇒ \frac{1331}{1000}=(\frac{11}{10})^n$ $⇒ (\frac{11}{10})^3=(\frac{11}{10})^n$ After comparing, we get: $n=3$ Hence, the correct answer is 3.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 250000 becomes Rs. 275625 in 2 years?
Option 1: 8% per annum
Option 2: 3% per annum
Option 3: 10% per annum
Option 4: 5% per annum
Question : What is the compound interest on Rs. 8400 for 2 years at 10% per annum compounded annually?
Option 1: Rs. 10164
Option 2: Rs. 840
Option 3: Rs. 5064
Option 4: Rs. 1764
Question : Find the compound interest (CI) on Rs. 12,600 for 2 years at 10% per annum compounded annually.
Option 1: Rs. 3,146
Option 2: Rs. 2,646
Option 3: Rs. 3,646
Option 4: Rs. 2,645
Question : At what rate of compound interest per annum, a sum of Rs. 20,000 becomes Rs. 23,152.50 in 1 year and 6 months compounded half-yearly?
Option 1: 10% per annum
Option 2: 5% per annum
Option 3: 12% per annum
Option 4: 8% per annum
Question : Find compound interest on Rs. 8000 at 15% per annum for 2 years, compounded annually.
Option 1: Rs. 2580.00
Option 2: Rs. 6345.51
Option 3: Rs. 2778.81
Option 4: Rs. 26548.81
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile