Multiple Choice Questions on In 3 years Rs 3000 amounts to Rs 3993 at x compound interest compounded annually The value of x is ........ for SSC CGL Exam Preparation

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Multiple Choice Questions

In 3 years Rs 3000 amounts to Rs 3993 at x compound interest compounded annually The value of x is ........

Quantitative Aptitude (CGL) Compound Interest
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    In 3 years Rs 3000 amounts to Rs 3993 at x% compound interest, compounded annually. The value of x is

    10

    Correct Answer

    8

    Incorrect Answer

    5

    Incorrect Answer

    9

    Incorrect Answer
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    Explanation:

    We know that 
    A=P(1+x/100)^x 
    3993=3000(1+x/100)^3
    3993/3000=(1+x/100)^3
    taking cube root on both sides
    1331/1000=(1+x/100)^3
    11/10=1+x/100
    x/100=11/10−1
    x/100=1/10
    x= 10 %

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