Question 30

Find the interest on Rs.25000 at 12% p.a compounded annually for 3 years.

Solution

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P=25000Rs. , r=12%, n=3.

Compounded amount=$$25000(1+0.12)^3$$.

=35123.20 Rs.

So,interest earned=(35123.20-25000) Rs.

=10123.20 Rs.

C is correct choice.

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