Question

What will be the amount of ₹6000 lent from 17 th January 2009 to 12 th June 2009 at 9%p.a.

Answer 1

Answer:

Step-by-step explanation:

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.