Multiple choice

What will be the compound interest obtained on an amount of Rs. 8500 at the rate of 10% per annum after 3 years ?

  1. Rs. 2513.50

  2. Rs. 2813.50

  3. Rs. 2823.50

  4. Rs. 2113.50

  5. Rs. 1813.50
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Principal = 8500, Rate = 10%, Time = 3 years. Amount = P(1 + r/100)³ = 8500 × (1.1)³ = 8500 × 1.331 = 11313.50. Compound Interest = Amount - Principal = 11313.50 - 8500 = 2813.50. Option B is correct.

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