Multiple choice

Hemant deposited Rs. 8000 in a private bank for 3 years at $15\%$ per annum compounded yearly. What is the compound interest that Hemant will get after 3 years?

  1. Rs 4000

  2. Rs 5000

  3. Rs 4567

  4. Rs 4167
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Amount = 8000 * (1 + 0.15)^3 = 8000 * (1.15)^3 = 8000 * 1.520875 = 12167. Compound Interest = 12167 - 8000 = 4167.

AI explanation

Using the compound interest formula A = P(1 + R/100)^T, the amount after 3 years is 8000 * (1 + 15/100)^3, which equals 8000 * 1.520875 = 12167. The compound interest earned is the final amount minus the principal, 12167 - 8000 = 4167. The result is Rs. 4167.

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