Find the amount of ₹6000 lent from 17 th January 2009 to 12 th June 2009 at 9%p.a.
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Answer:
An amount of 6000 Rs. Lent at 5% per annum compound interest for 2 years will become :
[A]6000 Rs.
[B]6600 Rs.
[C]6610 Rs.
[D]6615 Rs.
6615 Rs.
A = P(1 + \frac{R}{100})^{T}
= 6000(1 + \frac{5}{100})^{2}
= 6000\times \frac{21}{20}\times \frac{21}{20} = 6615\ Rs.
Hence option [D] is correct answer.
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