Question

Mohit invests a sum of Rs. 41250 at the rate of 6% per. annum. What approximate compound interest will he obtain at the end of 3 years?
A 8100
B 7425
C 8210
D 7489
"Please! Please! Please! Give Me The Full Explanation!!!"​

Answer 1

thanks for free points

Answer 2

Answer:

D) Rs.7,879

Step-by-step explanation:

$\tt{C.P = P (1 + \frac{r}{100}) {}^{t} - 1}$

$\tt{= 41250(1 + \frac{6}{100 } ) {}^{3} - 1}$

$\tt{= 41250(1.06) {}^{3} - 1}$

= 41250 ( 1.191 - 1 )

$\huge \tt{= 41250 \times 0.191}$

= Rs.7878.75

Rs.7879