SSC CGL Model Paper 11

Question : 71 of 100

Marks: +1, -0

What is the compound interest on a sum of Rs.10000 for

1 1/3

year at 9% per annum, if the interest is compounded 4 - monthly? (Nearest to Rs 1)

Solution:

9/12×4 = 3%

for every 4 Month
I year = 300
II year = 300 + 9
III year = 300+ 18+ 0.27
IV year = 300 + 27+0.81
Total = 1200 + 54 +1.08 = Rs. 1255(approx)

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