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Compute the amount and the compound interest in each of the following by using the formulae when, Principal = Rs. 2000, Rate $= 4$ paise per annum, Time $= 3$ years.

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The amount and compound interest are Rs.8149.72 and Rs.217.72.

The amount and compound interest are Rs.2249.72 and Rs.249.72.

The amount and compound interest are Rs.4249.72 and Rs.285.72.

The amount and compound interest are Rs.2917.72 and Rs.341.72.

answer is B.

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Detailed Solution

Given,

Principal (P) = Rs 2 000 Rate (R) = 4 % p .a . Time (T) = 3 years

The formula to calculate the amount is given by

A = P 1 + R 100 T ⋅ ⋅ ⋅ ⋅ ⋅ ⋅ (1)

Substitute the given value in equation (1) and solve for amount A,

⇒ A = 2000 1 + 4100 3 ⇒ A = 20001041003 ⇒ A = Rs 2249.72

Compound interest,

C I = A − P ⇒ C I = 2249.72 − 2000 ⇒ C I = Rs 249.72

Therefore, the compound interest is Rs 249.72
Hence, the amount and compound interest are calculated Rs 2249.72 and Rs 249.72 respectively.
Hence, the correct option is 2.

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