Compound Interest Practice Test 3

Question : 7 of 40

Marks: +1, -0

Balram lent Rs 1,000 to his friend at 10% p.a. compound interest on a condition that he will double the money at the end of each year. Find the amount paid by Balram’s friend at the end of 3 years.

Rs 8,990
Rs 4,576
Rs 9,863
Rs 10,648
None of these

Validate

Solution:

\table \Rs 1000,→,\Rs 1100;,, ↓; ,,\Rs 2200,→,\Rs 2420; ,,,,↓;,,,, \Rs 4840,→,\Rs 5324;,,,, ,,↓; ,,,,,,\Rs 10648

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