Multiple Choice Questions on Find the Compound Interest on Rs 30 000 if the rate of interest for first year is 5 second year is 1........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Find the Compound Interest on Rs 30 000 if the rate of interest for first year is 5 second year is 1...........

Quantitative Aptitude ( CCS) Compound Interest
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    Find the Compound Interest on Rs 30,000, if the rate of interest for first year is 5% second year is 10% and on the third year is 20%

    11580

    Correct Answer

    11500

    Incorrect Answer

    10500

    Incorrect Answer

    10000

    Incorrect Answer
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    Explanation:

    1st year 5%=1/20————20———21
    2nd year 10% =1/10———10———11
    3rd year 20% =1/5———–5———-6
    ——————————–=1000——1386
    (1386-1000)/1000*200=38.6%
    38.6% of 30000=11580

    Hence, option 1 is the correct answer.

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