Compound Interest Practice Test 4

Question : 3 of 40

Marks: +1, -0

How much will a sum of Rs 6,300 amount to in a span of 2 years, at 5 per cent per annum rate of compound interest (Rounded off to the nearest integer)?

Rs 6,946
Rs 6,876
Rs 6,521
Rs 6,790
Rs 6,492

Validate

Solution:

P = Rs 6,300; R = 5%; Time (T) = 2 years
Amount

=6300(1+5/100)^2

=6300×105/100×105/100

= 6,945.75 ≈ Rs 6,946

Go to Question:

Prev Question

Next Question