Joshita is having a bank account whose principal is Rs. 12000 and her bank compounds the interest thrice a year at an interest rate of 15%, how much money did she have in her account at the year's end?
A
18250.50
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B
28250.50
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C
38250.50
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D
48250.50
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Solution
The correct option is C18250.50 Given: P=12000,r=15%,n=3 years A=P[(1+r100)n] A=12000[(1+15100)3] A= Rs. 18250.50