Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

What will be the compound interest when ₹3600 is deposited in a bank at \(16\frac{2}{3}\)% per annum compounded annually for 2 years?

Options:

₹1500

₹1250

₹1300

₹1400

Correct Answer:

₹1300

Explanation:

16\(\frac{2}{3}\)% = \(\frac{1}{6}\)

Now,