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Question

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

A
12778
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B
10000
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C
12000
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D
none
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Solution

The correct option is A 12778
Principal amount, (P)=Rs.9600
Rate of interest, (r)=10%
Time, (n)=3
Amount, (A)=?

As we know that,
A=P(1+r100)n

A=9600×(1+10100)3

A=9600×(1110)3

A=9600×13311000

A=Rs.12777.6Rs.12778

Hence, (A) is the correct answer.

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