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Multiple choice

What would be compound interest on an amount of Rs. 3000 at the rate of 12 p.c.p.a. after three years? (approximate)

  1. Rs. 1230

  2. Rs. 1560

  3. Rs. 1369

  4. Rs. 1215

  5. Rs. 1310

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Compound Interest = P(1+r/100)³ - P = 3000(1.12)³ - 3000 = 3000(1.404928) - 3000 = 4214.78 - 3000 ≈ 1215. Option D matches.

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