Compound Interest Practice Test 3

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Question : 32 of 40

Marks: +1, -0

Find the amount received by Raghav at the end of 4 years at 25% p.a. compounded annually if he has deposited Rs 6,40,000 in a bank.

Rs 12,60,000
Rs 15,22,700
Rs 15,62,500
Rs 16,55,000
Rs 10,65,000

Solution:

Amount

= 6,40,000(1+25/100)^4

=6,40,000(5/4×5/4×5/4×5/4)

= Rs 15,62,500

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