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An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?
- a)12854
- b)12150
- c)13824
- d)20140
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
An amount Rs. 8000 is invested in a scheme of compound interest. If ra...
GIVEN:
Principal = Rs. 8000
Rate of interest = 20%
No. Of years = 3
Principal = Rs. 8000
Rate of interest = 20%
No. Of years = 3
FORMULA USED:
Amount = P(1 + r/100)n
Amount = P(1 + r/100)n
CALCULATION:
∴ Amount after 3 years,
⇒ 8000 × 1.23
⇒ 8000 × 1.728
⇒ Rs. 13824
∴ Amount after 3 years,
⇒ 8000 × 1.23
⇒ 8000 × 1.728
⇒ Rs. 13824
Most Upvoted Answer
An amount Rs. 8000 is invested in a scheme of compound interest. If ra...
Given:
- Principal amount (P) = Rs. 8000
- Rate of interest (R) = 20% per annum
- Time period (T) = 3 years
To find:
The amount obtained after 3 years.
Solution:
The formula to calculate the compound interest is:
A = P(1 + R/100)^T
Where:
A = Amount after time period T
P = Principal amount
R = Rate of interest per annum
T = Time period in years
Substituting the given values into the formula:
A = 8000(1 + 20/100)^3
= 8000(1 + 0.2)^3
= 8000(1.2)^3
Calculating the value inside the parentheses first:
(1.2)^3 = 1.2 × 1.2 × 1.2
= 1.44 × 1.2
= 1.728
Now, substituting this value back into the formula:
A = 8000(1.728)
= 13824
Hence, the amount obtained after 3 years is Rs. 13824.
- Principal amount (P) = Rs. 8000
- Rate of interest (R) = 20% per annum
- Time period (T) = 3 years
To find:
The amount obtained after 3 years.
Solution:
The formula to calculate the compound interest is:
A = P(1 + R/100)^T
Where:
A = Amount after time period T
P = Principal amount
R = Rate of interest per annum
T = Time period in years
Substituting the given values into the formula:
A = 8000(1 + 20/100)^3
= 8000(1 + 0.2)^3
= 8000(1.2)^3
Calculating the value inside the parentheses first:
(1.2)^3 = 1.2 × 1.2 × 1.2
= 1.44 × 1.2
= 1.728
Now, substituting this value back into the formula:
A = 8000(1.728)
= 13824
Hence, the amount obtained after 3 years is Rs. 13824.
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An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer?
Question Description
An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer?.
An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An amount Rs. 8000 is invested in a scheme of compound interest. If rate of interest is 20% per annum, then what is the amount (in Rs) obtained after 3 years?a)12854b)12150c)13824d)20140Correct answer is option 'C'. Can you explain this answer?.
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