Question 2

Raviraj invested an amount of Rs.10,000 at compound interest rate of 10 p.e.p.a. For a period of three years. How much amount will Raviraj et after three years ?

Solution

Principal sum = Rs. 10,000

Rate of interest = 10% and time period = 3 years

Amount after compound interest = $$P(1+\frac{r}{100})^T$$

= $$10,000(1+\frac{10}{100})^3$$

= $$10,000\times(\frac{11}{10})^3$$

= $$10\times1331=Rs.$$ $$13,310$$

=> Ans - (A)

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