Multiple Choice Questions on There is a 20 increase in an amount in 3 years at simple interest What is the compound interest of R........... for CDS Exam Preparation

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Multiple Choice Questions

There is a 20 increase in an amount in 3 years at simple interest What is the compound interest of R...........

Quantitative Aptitude (CDS) Compound Interest
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    There is a 20 % increase in an amount in 3 years at simple interest. What is the compound interest of Rs.95000 after 3 years at the same rate?

     

    Rs 51888.3713
     

    Incorrect Answer

    Rs 81858.1733
     

    Incorrect Answer

    Rs 18858.1337
     

    Correct Answer

    Rs 19758.1337

    Incorrect Answer
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    Explanation:

    Let P =Rs.100. 
    Then simple interest =20
    Time= 3 years
    Rate=(100×20)/(100×3)=20/3% 
    Now, P= Rs.95000
    T=3 years and R =20/3% 
    amount= Rs.[95000×(1+20/300)^3]
    =Rs 113858.134
    Compound interest=Rs 113858.134 - Rs 95000
    =Rs 18858.1337

    By: bhavesh kumar singh
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