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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.


  • Options
  • A. Rs.1251
  • B. Rs.1261
  • C. Rs.1271
  • D. Rs,1281

  • Correct Answer
  • Rs.1261 

    Explanation

    Clearly, Rate = 5% p.a .,

    Time = 3 years

    S.I =Rs.1200.

    So,Principal

    =Rs.(100 x 1200/3x5)

    =Rs.8000.

     

    Amount

    =Rs.[8000 x (1+5/100)³]

    =Rs(8000x21/20x21/20x21/20)

    = Rs.9261

     

    C.I

    =Rs.(9261-8000)

    =Rs.1261.

  • Tags: Bank Exams, Bank PO

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