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Railways Sample Paper RRBs Assistant Loco Pilot and Technician CBT STAGE-I Sample Paper-8

  • question_answer
    A man invests Rs. 4000 for three years at compound interest. After one year the money amounts to Rs. 4320. What will be the amount (to the nearest rupee) due at the end of 3yr?

    A)  Rs. 5039          

    B)  Rs. 5789

    C)  Rs. 6129          

    D)  Rs. 4939

    Correct Answer: A

    Solution :

    Annual compound interest = R% Then, given \[\frac{4000\times R\times 1}{100}=\left( 4320-4000 \right)\] \[\therefore \,\]    \[R=\frac{320}{40}=8%\] \[\therefore \] Required amount \[=4000{{\left( 1+\frac{8}{100} \right)}^{3}}\] \[=\frac{4000\times 27\times 27\times 27}{25\times 25\times 25}\] \[=5038.848=\]Rs. 5039


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