Question

Find the compound interest on Rs.10000 at 20% for 3years?

• A. 80
• B. 7000
• C. 7280
• D. 1000

Answer 1

Answer:

C. 7280

P = 10000

R = 20%

N = 3years

$CI =P[1+\frac{R}{100}]^N-P$

$CI=10000[1+\frac{20}{100}]^3-10000$

$CI= 7280$

Alternate Method:

For 3years we take $11^3$

$11^3=1331$

1	x 10000	10000---------P
3	x 2000	6000
3	x 400	1200
1	x 80	80

C I = 7280