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Find the compound interest earned in the 9th year, if the compound interest earned on the principal amount Rs. 10000 at the 8th year is Rs. 1948.72 and the rate of interest applied is 10% p.a.
- a)Rs. 2143.59
- b)Rs. 3143.59
- c)Rs. 2103.59
- d)Rs. 1958.7
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Find the compound interest earned in the 9th year, if the compound in...
Given:
Compound interest earned on the 8th year = Rs. 1948.72
Rate of interest applied = 10% p.a.
Formula used:
(1.) C.In+1 = (1 + R%) × C.In
Where,
C.In = Compound interest earned for nth year
C.In+1 = Compound interest earned for (n + 1)th year
R = rate of interest applied
Calculation:
According to the question,
⇒ C.I9 = (1 + 10%) × C.I8
⇒ C.I9 = (1 + 0.1) × 1948.72
⇒ C.I9 = 1.1 × 1948.72
⇒ C.I9 = Rs. 2143.59
Therefore, 'Rs. 2143.59' is the required answer.
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Community Answer
Find the compound interest earned in the 9th year, if the compound in...
Given Data:
Principal amount (P) = Rs. 10000
Compound interest earned in the 8th year = Rs. 1948.72
Rate of interest (R) = 10% p.a.
Calculating Compound Interest:
To calculate the compound interest earned in the 9th year, we first need to find the amount after 8 years using the formula:
A = P(1 + R/100)^n
where A is the amount, P is the principal amount, R is the rate of interest, and n is the number of years.
Substitute the given values:
A = 10000(1 + 10/100)^8
A = 10000(1.10)^8
A = 10000 * 2.1435889
A ≈ Rs. 21435.89
Now, we need to find the amount after 9 years:
A' = P(1 + R/100)^n
A' = 10000(1.10)^9
A' = 10000 * 2.357947
A' ≈ Rs. 23579.47
Calculating Compound Interest Earned in the 9th Year:
Compound interest earned in the 9th year = Amount after 9 years - Amount after 8 years
Compound interest earned in the 9th year = Rs. 23579.47 - Rs. 21435.89
Compound interest earned in the 9th year ≈ Rs. 2143.59
Therefore, the compound interest earned in the 9th year is approximately Rs. 2143.59, which corresponds to option 'A'.
Principal amount (P) = Rs. 10000
Compound interest earned in the 8th year = Rs. 1948.72
Rate of interest (R) = 10% p.a.
Calculating Compound Interest:
To calculate the compound interest earned in the 9th year, we first need to find the amount after 8 years using the formula:
A = P(1 + R/100)^n
where A is the amount, P is the principal amount, R is the rate of interest, and n is the number of years.
Substitute the given values:
A = 10000(1 + 10/100)^8
A = 10000(1.10)^8
A = 10000 * 2.1435889
A ≈ Rs. 21435.89
Now, we need to find the amount after 9 years:
A' = P(1 + R/100)^n
A' = 10000(1.10)^9
A' = 10000 * 2.357947
A' ≈ Rs. 23579.47
Calculating Compound Interest Earned in the 9th Year:
Compound interest earned in the 9th year = Amount after 9 years - Amount after 8 years
Compound interest earned in the 9th year = Rs. 23579.47 - Rs. 21435.89
Compound interest earned in the 9th year ≈ Rs. 2143.59
Therefore, the compound interest earned in the 9th year is approximately Rs. 2143.59, which corresponds to option 'A'.
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Find the compound interest earned in the 9th year, if the compound interest earned on the principal amount Rs. 10000 at the 8th year is Rs. 1948.72 and the rate of interest applied is 10% p.a.a)Rs. 2143.59b)Rs. 3143.59c)Rs. 2103.59d)Rs. 1958.7Correct answer is option 'A'. Can you explain this answer?
Question Description
Find the compound interest earned in the 9th year, if the compound interest earned on the principal amount Rs. 10000 at the 8th year is Rs. 1948.72 and the rate of interest applied is 10% p.a.a)Rs. 2143.59b)Rs. 3143.59c)Rs. 2103.59d)Rs. 1958.7Correct answer is option 'A'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about Find the compound interest earned in the 9th year, if the compound interest earned on the principal amount Rs. 10000 at the 8th year is Rs. 1948.72 and the rate of interest applied is 10% p.a.a)Rs. 2143.59b)Rs. 3143.59c)Rs. 2103.59d)Rs. 1958.7Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the compound interest earned in the 9th year, if the compound interest earned on the principal amount Rs. 10000 at the 8th year is Rs. 1948.72 and the rate of interest applied is 10% p.a.a)Rs. 2143.59b)Rs. 3143.59c)Rs. 2103.59d)Rs. 1958.7Correct answer is option 'A'. Can you explain this answer?.
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