CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

The amount on ₹ 10,800 for 3 years at 1212% per annum, compounded annually is


A

₹ 15,489 (approx)

No worries! We‘ve got your back. Try BYJU‘S free classes today!
B

₹ 15,250 (approx)

No worries! We‘ve got your back. Try BYJU‘S free classes today!
C

₹ 15,377 (approx)

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D

₹ 15,157 (approx)

No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is C

₹ 15,377 (approx)


Here, Prinicipal (P) = ₹ 10800, Time (n) = 3 years,

Rate of interest (R) = 1212%=252%

Amount (A)=P(1+R100)n

= 10800(1+252×100)3

= 10800(98)3

= 10800×98×98×98

= ₹ 15,377.34

= ₹ 15,377 (approx)


flag
Suggest Corrections
thumbs-up
611
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Deducing a Formula for Compound Interest
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon