Multiple choice

If in a certain number of years Rs 3000 amount to Rs.4320 at compound interest, in half that time Rs.3000 will amount to.

  1. Rs.3800

  2. Rs.3500

  3. Rs.3600

  4. Rs.4000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let amount after t years be 4320. Principal P = 3000. Compound interest formula: A = P(1 + r)^t. So 4320 = 3000(1 + r)^t, giving (1 + r)^t = 4320/3000 = 1.44. After half time (t/2): A = 3000(1 + r)^(t/2) = 3000 × √1.44 = 3000 × 1.2 = 3600. Option C is correct.

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