Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

If compound interest for 13th year is Rs. 1715 at \(16\frac{2 }{3}\) % p.a. Then find the compound interest for 10th year.

Options:

343

818

1080

2723.3

Correct Answer:

1080

Explanation:

16\(\frac{2 }{3}\)% = \(\frac{1}{6}\) ⇒ \(\frac{7 → Amt.}{6 → Pri.}\)

For three years gap:

              10th year : 13th year

C.I.      :       63       :       73

                    216      :     343

Here,

343R = 1715

1R = 5

216R = 216 × 5 = 1080 = Sum at 10th year.