Compound interest (In ₹) on ₹ 5,000 for 3 years at 10 % per cent will amount to

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6.Interest

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The compound interest (In ₹) on ₹ $5,000$ for $3$ years at $10 \%$ per cent will amount to

A

$1654$

B

$1655$

C

$1600$

D

$1565$

Solution

(b) $\quad CI =P\left[\left(1+\frac{R}{100}\right)^{T}-1\right]=5000\left[\left(1+\frac{10}{100}\right)^{3}-1\right]$

$=5000\left[\left(\frac{11}{10}\right)^{3}-1\right]=\frac{5000 \times 331}{1000}=₹ 1655$

Standard 13

Quantitative Aptitude

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