Multiple Choice Questions on If the interest is compounded yearly for three years then what is the amount to be earned by C ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

If the interest is compounded yearly for three years then what is the amount to be earned by C ........

Quantitative Aptitude ( CCS) Data Table
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    Person

    Type of Interest

    Principal(P)

    Amount (A)

    Years

    Rate of Interest(%)

    A

    Compound

    —

    —

    2

    2

    B

    Simple

    —

    —

    4

    —

    C

    Compund

    20000

    —

    2

    4

    D

    Simple

    —

    29500

    3

    —

    E

    Compound

    10000

    —

    —

    4

    If the interest is compounded yearly for three years then what is the amount to be earned by C?

    23497.28

    Incorrect Answer

    20497.28

    Incorrect Answer

    22597.28

    Incorrect Answer

    22497.28

    Correct Answer
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    Explanation:

    Explanation :
    Amount = P(1 + (R/100)3)
    A = 20000 * 1.04 * 1.04 * 1.04
    A = 22497.28

    By: Pranav Gupta
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