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    Question

    If the amount on a certain principal in 3 years at 12%

    rate of interest compounded annually is Rs 12,000, what will be the amount (in Rs) after the 4th year?
    A 14330 Correct Answer Incorrect Answer
    B 15440 Correct Answer Incorrect Answer
    C 13440 Correct Answer Incorrect Answer
    D 14550 Correct Answer Incorrect Answer

    Solution

    In this Question we have asked amount after 4 year and we have given that amount after 3 year which is 12000 So next year which is 4th year interest will on 12000 12000 × 12/100 = 1440 = 12000 + 1440 = 13440

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