Question

A sum of Rs. $9600$ is invested for $3$ years at $10$% p.a. compounded annually. find amount(approx)

• A. $12778$
• B. $10000$
• C. $12000$
• D. none

Answer 1

The correct option is A $12778$

Principal amount, $\left(P\right)=Rs.9600$

Rate of interest, $\left(r\right)=10\%$

Time, $\left(n\right)=3$

Amount, $\left(A\right)=?$

As we know that,

$A=P{(1+\frac{r}{100})}^n$

$\Rightarrow A=9600\times {(1+\frac{10}{100})}^3$

$\Rightarrow A=9600\times {\left(\frac{11}{10}\right)}^3$

$\Rightarrow A=9600\times \frac{1331}{1000}$

$\Rightarrow A=Rs.12777.6\approx Rs.12778$

Hence, (A) is the correct answer.