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A man invests Rs. 2000 at 5% compound interest. At the end of 3 years he will get a total amount of:1. Rs. 23052. Rs. 2316.253. Rs. 2315.254. Rs. 2205 |
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Answer» Correct Answer - Option 3 : Rs. 2315.25 Given: Principal = Rs. 2000 Rate of interest = 5% Time = 3 years Formula used: Amount = Principal{1 + (rate/100)}time Calculation: Amount = Principal{1 + (rate/100)}time ⇒ 2000{1 + (5/100)}3 ⇒ 2000(21/20)3 ⇒ 2000 × (9261/8000) ⇒ 9261/4 ⇒ 2315.25 ∴ The amount will get after 3 years is Rs. 2315.25. |
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