What will be compound interest (In ₹) on a sum of ₹ 50000 after 4 years at rate of 10 % per annu

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6.Interest

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What will be the compound interest (In ₹) on a sum of ₹ $50000$ after $4$ years at the rate of $10 \%$ per annum?

A

$20000$

B

$21205$

C

$22205$

D

$23205$

Solution

C.I. $=50000\left[\left(1+\frac{10}{100}\right)^{4}-1\right]$

$=50000\left[\left(\frac{11}{10}\right)^{4}-1\right]=\frac{50000}{10^{4}}\left[11^{4}-10^{4}\right]$

$=5 \times\left[\left(11^{2}+10^{2}\right)\left(11^{2}-10^{2}\right)\right]=5 \times[221 \times 21]=23205$

$\therefore$ Compound interest $=₹ 23205$

Standard 13

Quantitative Aptitude

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