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Question

Vishal invests ₹ 12000 for three years at the rate of 10% per annum compound interest. Find the sum due to Vishal at the end of the first year.


A

₹ 13800

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B

₹ 13200

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C

₹ 13600

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D

₹ 14200

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Solution

The correct option is B

₹ 13200


Principal = ₹ 12000, Rate = 10%

For 1 year compund interest is equal to simple interest

simple Interest for one year =PRT100=(12000×10×1)100=1200

So, sum due after one year = 12000 + 1200 = ₹ 13200


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