RRB Group D 1-Dec-2013 Shift 1 Solved Paper

Question : 4 of 100

Marks: +1, -0

At what annual rate, the compound interest ₹10,000 will amount to ₹13,310 in three years?

Solution:

\;\text " "\; {P}=₹ 10,000, {A}=₹ 13,310

\;\text " By "\; \;\; A=P(1+\;{R}/{100})^{n}

13310=10000(1+\;{R}/{100})^{3}

⇒ \;{13310}/{10000}=(1+\;{R}/{100})^{3}

⇒(\;{11}/{10})^{3}=(1+\;{R}/{100})^{3}

⇒ \;{R}/{100}=\;{11}/{10}-1=\;{1}/{10}

⇒ {R}=10 \%

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