Question

Calculate the amount on Rs 7500 in 3 years and at 6% compounded annually.

• A. Rs 8932.62
• B. Rs 8427
• C. Rs 8427.56
• D. Rs 9765

Answer 1

The correct option is A

Rs 8932.62

Given: Principal = Rs 7500

time, n = 3 years

rate, r% = 6%

Amount = Rs 7500 $(1+\frac{6}{100}{)}^3$

= Rs 7500 $\left(\frac{106}{100}\right)$

= Rs 8932.62