ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    Find the total amount returned by Manish to the bank at

    the end of three years, when Rs.24000 is borrowed at the rate of (25/2)% compounded annually?(can calculate the approximate value)
    A Rs.54172 Correct Answer Incorrect Answer
    B Rs.44172 Correct Answer Incorrect Answer
    C Rs.34172 Correct Answer Incorrect Answer
    D Rs.64172 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Principal = 24000┬а Rate = (25/2)%┬а Time = 3 years┬а Amount formula = P [1 + (R/100)]2┬а Amount = 24000 x [(112.5/100) x (112.5/100) x (112.5/100)]┬а = Rs.34171.875 or approximate ~ Rs.34172

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question