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Railways Sample Paper RRBs Assistant Loco Pilot and Technician CBT STAGE-I Sample Paper-11

  • question_answer
    Shyam invests an amount of Rs. 5690 at the rate of 5% per annum for 4 yr. What approximate amount of compound interest will be obtain at the end of 3 yr?

    A)  Rs. 854

    B)  Rs. 799

    C)  Rs. 843

    D)  Rs. 897

    Correct Answer: D

    Solution :

    Compound Interest \[=\left[ 5690{{\left( 1+\frac{5}{100} \right)}^{3}}-1 \right]\] \[=\left[ 5690\times \left( \frac{21}{20}\times \frac{21}{20}\times \frac{21}{20} \right)-1 \right]\] \[=5690\times \frac{9261}{8000}-1\] \[=\frac{5690\times 1261}{8000}\] \[=\,\,\text{Rs}\text{.}\,\,896.88\approx \,\,\text{Rs}\text{.}\,\,897\]


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