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The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per annum, compounded annually is
- a)Rs 882.70
- b)Rs 873.50
- c)Rs 868
- d)Rs 840
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
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The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per...
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The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per...
- **Principal Amount:** Rs 5,600
- **Rate of Interest:** 10% per annum
- **Time:** 3/2 years
**Calculation:**
- **Interest Formula:** A = P(1 + r/n)^(nt)
- **Where:**
- A = Total amount after n years
- P = Principal amount
- r = Rate of interest per annum
- n = Number of times interest is compounded in a year
- t = Time period in years
- **Substitute the given values:**
- P = Rs 5,600
- r = 10% = 0.10
- t = 3/2 years
- As the interest is compounded annually, n = 1
- **Calculate the Total Amount after 3/2 years:**
A = 5600(1 + 0.10/1)^(1*(3/2))
A = 5600(1 + 0.10)^1.5
A = 5600(1.10)^1.5
A = 5600(1.331)
A = Rs 7456
- **Calculate the Compound Interest:**
Compound Interest = Total Amount - Principal Amount
CI = Rs 7456 - Rs 5600
CI = Rs 1856
Therefore, the compound interest on Rs 5,600 for 3/2 years at 10% per annum, compounded annually is Rs 1856.
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The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per annum, compounded annually isa)Rs 882.70b)Rs 873.50c)Rs 868d)Rs 840e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per annum, compounded annually isa)Rs 882.70b)Rs 873.50c)Rs 868d)Rs 840e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per annum, compounded annually isa)Rs 882.70b)Rs 873.50c)Rs 868d)Rs 840e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compound interest (in Rupees) on Rs 5,600 for 3/2 years at 10% per annum, compounded annually isa)Rs 882.70b)Rs 873.50c)Rs 868d)Rs 840e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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