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    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  Rate = (25/2)%  Time = 3 years  Amount formula = P [1 + (R/100)]2  Amount = 24000 x [(112.5/100) x (112.5/100) x (112.5/100)]  = Rs.34171.875 or approximate ~ Rs.34172

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