Postal or Sorting Assistants Model Paper 4 With Solutions

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Question : 20 of 100

Marks: +1, -0

How much will be the compound interest to be paid on a principal amount of ₹ 85,000 after 3 years at the rate of 6 p.c.p.a. ?

₹16623.36
₹ 16236.36
₹ 16326.36
₹ 16632.36

Solution:

Cl =

P[[1+R/100]^T-1]

=85000 [[1+6/100]^3]-1]

= 85000 [1.191016-1]

= 85000 ×0.191016

=₹

16236.36

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