Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

Find the compound interest on ₹6000 in 9 months at 40% per annum, when the interest being compounding quarterly.

Options:

₹1940

₹2000

₹1986

₹2020

Correct Answer:

₹1986

Explanation:

Rate of Interest = 40% per annum = 10% per quarter

9 months = 3 quarters

Now,