general math MCQ #1209

At the end of three years what will be the compound interest at the rate of 10% p.a. on an amount of Rs.20000?

general math MCQ #1209

  1. Question 1

    Q1. At the end of three years what will be the compound interest at the rate of 10% p.a. on an amount of Rs.20000?

    • A) Rs0.66
    • B) Rs0.65
    • C) Rs0.68
    • D) Rs0.64

    Answer: Rs0.66

    Explanation: CI = P[(1 + r)ⁿ − 1] = 20000[(1.10)³ − 1] = 20000 × 0.331 = Rs. 6,620.