send mail to support@abhimanu.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
By Loging in you agree to Terms of Services and Privacy Policy
Claim your free MCQ
Please specify
Sorry for the inconvenience but we’re performing some maintenance at the moment. Website can be slow during this phase..
Please verify your mobile number
Login not allowed, Please logout from existing browser
Please update your name
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Your Free user account at abhipedia has been created.
Remember, success is a journey, not a destination. Stay motivated and keep moving forward!
Refer & Earn
Enquire Now
My Abhipedia Earning
Kindly Login to view your earning
Support
Type your modal answer and submitt for approval
A sum of money becomes Rs35,680 after 3 years and Rs53,520 after 6 years at a certain rate percentage p.a., interest compounded
yearly. What is the compound interest on the same sum in the first case? (Your answer should be nearest to an integer)
Rs11,983
Rs11,893
Rs10,842
Rs11,938
- We're dealing with compound interest, where the amount grows due to interest that is calculated on the initial principal and previously accumulated interest.
- The principal grows to Rs35,680 in 3 years and Rs53,520 in 6 years.
- We need to find the compound interest for the first 3 years.
- The compound interest can be found by subtracting the principal from the amount after 3 years.
- By reverse calculating, we find the principal (P), targeted through the compound interest formula after 3 years.
- Amount after 3 years (Rs35,680) minus principal gives the compound interest.
- Given options are:
- Option 1: Rs11,983
- Option 2: Rs11,893
- Option 3: Rs10,842
- Option 4: Rs11,938
- After calculation, the compound interest is closest to Option 2: Rs11,893.
Therefore, the compound interest is correct with Option 2.
By: santosh ProfileResourcesReport error
Access to prime resources
New Courses