Question

What would be the C.I. obtained on an amount of Rs. $12000$ at the rate of $9$ p.c.p.a for $3$ years?

• A. Rs. $3840$
• B. Rs. $3540.348$
• C. Rs. $3540$
• D. Rs. $3640$

Answer 1

Answer: (B)

Rs. $3540.348$

Given:

$P=12000$

$R=9\%$

$F=n=3year$

$A=P{(1+\frac{R}{100})}^n$

$=12000{(1+\frac{9}{100})}^3$

$=12000{\left(\frac{109}{100}\right)}^3$

$=12000\times \frac{109}{100}\times \frac{109}{100}\times \frac{109}{100}$

$A=15540.348$

C.I.$=A-P$

C.I.$=15540.348-12000$

C.I$=$ Rs. $3540.348$

Hence option (B) is the correct option