Find the compound interest if Rs. 4000 is invested for 3 years at the rate of 12;%p. a.
A) 5695.31
B) 1695.31 C)5600
D) 5765.32
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Answer:
=Rs. 4000
R=6%
T=3 years
A=P(1+
100
R
)
T
=4000(1+
100
6
)
3
=4000(
100
106
)
3
=4000×
100×100×100
106×106×106
=
125
595508
=4764.064
Compound Interest=A−P
=4764.064−4000
= Rs. 764.064.
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