Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

What will be the compound interest on Rs. 10000 at the rate of 10% per annum in 4 years?

Options:

Rs. 4000

Rs. 4355.20

Rs. 4641

Rs. 4731

Correct Answer:

Rs. 4641

Explanation:

At the rate of 10% per annum:

The effective rate of interest for 4 yeras = 46.41%

Therefore,

C.I. will be = 10000 × 46.41% = Rs.4641