Question

Ramesh invests Rs.12800 for three years at the rate of $10\%$ per annum compound interest. Find the sum due to Ramesh at the end of the first year.

• A. Rs.15060
• B. Rs.14000
• C. Rs.14080
• D. Rs.13090

Answer 1

The correct option is C

Rs.14080

Given:

Principal = Rs.12800

Rate = $10\%$

Interest for one year = $\frac{P\times R\times T}{100}=\frac{(12800\times 10\times 1)}{100}=Rs.1280$

So, sum due after one year = 12800 + 1280 = Rs.14080