engineering recuitment MAHATRANSCO AE Electrical Mock Test Quantitative Aptitude Interest Compound Interest
The rate of interest in a scheme, working on the principle of compound interest, increases by 1% per annum every year. For first year, the rate of interest is 14% per annum. A sum of Rs. 10,00,000 is invested in this scheme for 3 years. Find the amount of interest that will be generated in total.
1
Rs. 500000
2
Rs. 520760
3
Rs. 530940
4
Rs. 540670
5
Rs. 550000