Ranjana borrowed the money Rs $1, 00, 000$ for $3$ years at the rate $3.5 %$ p.a. compounded annually. Calculate interest to be paid.

10871.78

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1000.8

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8710.68

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245

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Solution

The correct option is A $10871.78$
$P = 1, 00, 000, T = 3, R = 3.5$
$C I = P {[1 + \frac{R}{100}]}^{T} - P$
$= 100000 {[1 + \frac{3.5}{100}]}^{3} - 100000$
$= 100000 \times [{(1.035)}^{3} - 1]$
$= 10871.7$

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Ranjana borrowed the money Rs1,00,000 for 3 years at the rate 3.5% p.a. compounded annually. Calculate interest to be paid.

The correct option is A 10871.78P=1,00,000,T=3,R=3.5CI=P[1+R100]T−P=100000[1+3.5100]3−100000=100000×[(1.035)3−1]=10871.7

Ranjana borrowed the money Rs $1, 00, 000$ for $3$ years at the rate $3.5 %$ p.a. compounded annually. Calculate interest to be paid.

The correct option is A $10871.78$
$P = 1, 00, 000, T = 3, R = 3.5$
$C I = P {[1 + \frac{R}{100}]}^{T} - P$
$= 100000 {[1 + \frac{3.5}{100}]}^{3} - 100000$
$= 100000 \times [{(1.035)}^{3} - 1]$
$= 10871.7$