Multiple choice

Find the compound interest on Rs. 18000 in 3 years at 5 % per annum, the interest being compounded yearly? 18000 रुपए पर 3 वर्षो का 5% प्रतिवर्ष की दर से चक्रवृद्धि ब्याज ज्ञात कीजिये,जहां ब्याज की दर वार्षिक है?

  1. Rs. 2837.25

  2. Rs. 2250.25

  3. Rs. 2395.40

  4. Rs. 2295.40
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A Correct answer
Explanation

Using the compound interest formula A = P(1 + r/100)^n, where P = Rs. 18000, r = 5%, n = 3 years. Amount = 18000 × (1.05)^3 = 18000 × 1.157625 = Rs. 20837.25. Therefore, Compound Interest = Amount - Principal = Rs. 20837.25 - Rs. 18000 = Rs. 2837.25.

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