Rs.3.000 is lent at 6% pa for 3 years at compound interest. What will be the final amount?
1) Rs. 3,500
2) Rs. 3,573
3) Rs. 4,073
4) Rs. 3,540
Answers
Answered by
7
Answer:
For ,
N=1years
P=Rs3,000
A=Rs3,240
=>S.I.=A−P=Rs240
We have S.I.=100PNR=1003,000×1×R=Rs240
=>R=8 %
And on interest being compounded for 3 years and R=8 %, Amount=P(1+100R)N=3,000×(1+1008)3=3,000×(1.083)=3,779.136 or Rs3,779
Answered by
4
Answer:
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