Multiple choice

What will be compound interest on a sum of Rs. 9000 at 4% per annum in 3 years? (two place of decimal)

  1. Rs.1143.77

  2. Rs.1223.77

  3. Rs.1123.77

  4. Rs.1133.77

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

Compound interest formula: A = P(1 + r/100)^n. Here P = Rs. 9000, r = 4%, n = 3. A = 9000(1.04)^3 = 9000 × 1.124864 = Rs. 10123.77. Compound Interest = A - P = 10123.77 - 9000 = Rs. 1123.77. Option C matches this calculation. The other options are either higher or lower than the correct value.

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