Question

Find the compound interest on Rs. $24000$ at $15\%$ per annum for $2\frac{1}{3}$ years,.

• A. Rs . $8000$
• B. Rs. $9237$
• C. Rs. $9327$
• D. Rs. $9732$

Answer 1

Answer: (C)

Rs. $9327$

Given, $P=$ Rs. $24000,R=15\%$ p.a., $T=2\frac{1}{3}$ years
$\therefore A=24000{(1+\frac{15}{100})}^2(1+\frac{\frac{1}{3}\times 15}{100})=24000{(1+\frac{3}{20})}^2(1+\frac{1}{20})$
$=24000{\left(\frac{23}{20}\right)}^2\times \frac{21}{20}=24000\times \frac{23\times 23\times 21}{8000}=$ Rs. $33327$
$\therefore$ C.I. $=$ Rs. $33327-$ Rs. $24000=$ Rs. $9327$