Multiple choice

Mr. Shurya wants to invest Rs. 30000 in a new project. The current rate of interest is 12% compounded yearly. How much amount will he receive at the end of 3 years?

  1. $30000$
  2. $42148$
  3. $60000$
  4. $40800$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Using compound interest formula: A = P(1+r)^n = 30000 × (1+0.12)^3 = 30000 × 1.404928 = Rs. 42,148 (rounded). This accounts for interest earning interest over 3 years.

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