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6.Interest
medium
A person takes ₹ $10,000$ loan at the rate of $10 \%$ interest compounding yearly for the period of $4$ years. How much interest (In ₹) he has to pay?
A
$4371$
B
$4581$
C
$4641$
D
$4641$
Solution
(d) Required interest
$=10000\left(1+\frac{10}{100}\right)^{4}-10000$
$=₹ 10000 \times \frac{(11)^{4}}{10000}-10000$
$=₹(14641-10000)$
$=₹ 4641$
Standard 13
Quantitative Aptitude