Question 75
A sum of ₹4500 is lent at compound interest. If the rate of interest is 10% per annum (interest is compounded annually), then what will be the amount after 3 years?
Solution
Principal sum = Rs. 4500
Rate of interest = 10% and time = 3 years
Amount under compound interest = $$P(1+\frac{r}{100})^t$$
= $$4500(1+\frac{10}{100})^3$$
= $$4500\times(1.1)^3=Rs.$$ $$5989.5$$
=> Ans - (A)
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