Multiple Choice Questions on The compound interest on Rs 64 000 for 3 years compounded annually at 7 5 p a is ........ for SSC CGL Exam Preparation

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Multiple Choice Questions

The compound interest on Rs 64 000 for 3 years compounded annually at 7 5 p a is ........

Quantitative Aptitude (CGL) Compound Interest
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    The compound interest on Rs. 64,000 for 3 years, compounded annually at 7.5% p.a. is

    Rs. 14,400

    Incorrect Answer

    Rs. 15,705

    Incorrect Answer

    Rs. 15,507

    Correct Answer

    Rs. 15,075

    Incorrect Answer
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    Explanation:

    CI = A(1+r/100)n –A;
    = 64000(1+7.5/100)3 – 64000;
    = 64000(1.242296-1) = 64000*0.242296=15507.

    By: MIRZA SADDAM HUSSAIN
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