What will be the compound interest on a sum of Rs. 200000 after 3 years at the rate of 5% p.a.?

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11 Nov 2019 Compound Interest

What will be the compound interest on a sum of Rs. 200000
after 3 years at the rate of 5% p.a.?

OPtion

1) 31515
2) 31625
3) 31535
4) 31525
5) 32525
6) 33525
7) 31025
8) 31725
9) 37525
10) None of these

Solution

CI = P (1 + r/n) (nt) - P
Answer is:31525

Correct Option: 4 Best Solution (3)