Multiple choice

What would be the compound interest accured on an amount of Rs. 24000 at the rate of 20% per annum at the end of 3 years?

  1. Rs. 17342

  2. Rs. 17492

  3. Rs. 18172

  4. Rs. 17472

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Compound Interest formula: A = P(1 + r/100)^n. Here P=24000, r=20%, n=3. Amount after 3 years = 24000 * (1.2)^3 = 24000 * 1.728 = 41472. Compound Interest = Amount - Principal = 41472 - 24000 = 17472. Option D matches.

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