Question

What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?
A) Rs.2592
B) Rs.2492
C) Rs.2352
D) Rs.2352

Answer 1

By implying values in the formula:- P/1+R/100^n (n=time)

We get,1500(1+20/100)^3
Answer is = Rs.2592 

Answer 2

Answer:

By implying values in the formula:- P/1+R/100^n (n=time)

We get,1500(1+20/100)^3

Answer is = Rs.2592