Question

    What will be the compound interest on a sum of Rs 22,000

    after 3 years at the rate of 6 percent per annum?┬а
    A Rs 4202.35 Correct Answer Incorrect Answer
    B Rs 3605.23 Correct Answer Incorrect Answer
    C Rs 2002.36 Correct Answer Incorrect Answer
    D Rs 1923.02 Correct Answer Incorrect Answer

    Solution

    A┬а =┬а P ( 1┬а +┬а R/100 тАЛ ) T ┬а A =┬а 22,000 (1 + 6/100)3┬а A = 22000 X 1.06 X 1.06 X 1.06 =┬атВ╣26,202.35 CI = A - P CI =┬атВ╣26,202.35 - 22000 = 4202.35

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