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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    If the rate of interest be 4% per annum for first year, 5% per annum for second year and 6% per annum for third year, then the compound interest of Rs. 10000 for 3 yr will be

    A) Rs. 1575.20

    B) Rs.1600

    C) Rs. 1625.80

    D) Rs. 2000

    Correct Answer: A

    Solution :

    [a] Amount \[=\text{Rs}.\,\left[ \begin{align}   & 10000\times \left( 1+\frac{4}{100} \right)\times \left( 1+\frac{5}{100} \right) \\  & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\times \left( 1+\frac{6}{100} \right) \\ \end{align} \right]\]             \[=\text{Rs}.\,\left( 10000\times \frac{26}{25}\times \frac{21}{20}\times \frac{53}{50} \right)\]             \[=\text{Rs}.\,\left( \frac{57876}{5} \right)=\text{Rs}.\,11575.20\]             CI \[=\text{Rs}.\,(11575.20-10000)\]             = Rs. 1575.20


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