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? 
    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  =  P ( 1  +  R/100 ​ ) T   A =  22,000 (1 + 6/100)3  A = 22000 X 1.06 X 1.06 X 1.06 = ₹26,202.35 CI = A - P CI = ₹26,202.35 - 22000 = 4202.35

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