Question

Ramesh invests Rs. $12,800$ for three years at the rate of $10\%$ per annum compound interest. Find the total amount due to him at the end of the third year.

• A. Rs. $16,036.80$
• B. Rs. $17,036.80$
• C. Rs. $18,036.80$
• D. Rs. $19,036.80$

Answer 1

The correct option is B Rs. $17,036.80$

Principal $=Rs.12800$

Rate of interest $=10$%

Time $=3$ years

$Amount=P{(1+\frac{R}{100})}^T$

$\Rightarrow A=12800{(1+\frac{10}{100})}^3$

$\Rightarrow A=12800\times \frac{110}{100}\times \frac{110}{100}\times \frac{110}{100}=Rs.17036.80$

Hence option (B) is correct