What will be the compound interest on a sum of Rs. 60,000 after 3 years at the rate of 9 p.c.p.a.?

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20 Apr 2018 Compound Interest

What will be the compound interest on a sum of Rs. 60,000 after 3 years at the rate of 9 p.c.p.a.?

OPtion

1) 77701.74
2) 71701.74
3) 72701.74
4) 73701.74
5) 77101.74
6) 77201.74
7) 77301.74
8) 17701.74
9) 77401.74
10) None of these

Solution

CI = P(1 + R)^T - P = 60000 (1+9/100)^3 - 60000 =17701.74
Option 8)

Correct Option: 8 Best Solution (0)