Thursday, 30 April 2020

Malini deposited Rs.7000/- with a finance company for 3 years at an interest of 15% per annum. What is the compound interest and the amount that Malini will get after 3 years?

 Malini deposited Rs.7000/- with a finance company for 3 years at an interest of 15% per annum. What is the compound interest and the amount that Malini will get after 3 years?

A. C.I – Rs.3246, amount – Rs.13246
B. C.I – Rs.3646, amount – Rs.10646
C. C.I – Rs.6436, amount – Rs.16046
D. C.I – Rs.4636, amount – Rs.14636

ANS: B

EXPLANATION:

Amount= p×(1+r/100)n
=7000×(1+15/100)3
=7000×(115/100)3
=7000×(23/20)3
=10646

C.I=10646-7000=3646

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