NIACL Model Paper 3 with solutions for free online practice

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Question : 20 of 100

Marks: +1, -0

What approximate amount of compound interest can be obtained on an amount of ₹ 9,650 at the rate of 6% p.a. at the end of 3 years?

₹ 1,737
₹ 1,920
₹ 1,720
₹1,860
₹ 1,843

Solution:

C.I. = P

[[1+r/100]^t-1]=9650[[1+6/100]^3-1]

=

9650(1.191016-1)

= 9650 × 0.191016=₹ 1843

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