When a sum of Rs 10000 is compounded annually Rs 13310 is obtained after 3 years find the rate of interest?

  • Aptitude
  • Simple and compound interest


A) 13.00%

B) 11.00%

C) 10.00%

D) 12.00%

Correct Answer:

Description for Correct answer:
\( \Large A=P \left(1+\frac{1}{100}\right)^{3}\)

\( \Large \frac{1331}{1000}= \left(1+\frac{R}{100}\right)^{3}\)

\( \Large\left(\frac{11}{10}\right)^{3}= \left(1+\frac{R}{100}\right)^{3} \)

\( \Large \frac{11}{10}-1=\frac{R}{100} \)

\( \Large \frac{R}{100}=\frac{1}{10} \)

R= 10%

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At what rate % p.a, compound interest will Rs 10,000 amount to Rs 13310 in 3 years?

Question

A

10%

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B

11%

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C

15%

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D

20%

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Solution

The correct option is B10%

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How much will Rs 10000 amount to in 3 years at compound interest if the rates are 10% per annum compounded yearly?

Thus, The compound Interest will be Rs. 3310 .

At what rate per annum compound interest will Rs 10000 amount to Rs 13 310 in 3 years?

13310 ,P=rs. 10000,t= 3 years. 100÷10=x. hence ,the required rate =10%p.

At what rate of compound interest per annum will a sum of Rs 10000 becomes Rs 14641 in 4 years?

A sum of Rs 10000 becomes Rs 14641 when invested at compound interest at the yearly interest rate of 20% per annum.

In what time will Rs 10000 amount to Rs 13310 at 20% per annum compounded half yearly?

Correct Option: A.