Q.

Find CI on ₹ 52000 for 4 years at 12% per annum compounded annually.

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!
An Intiative by Sri Chaitanya

a

₹ 15752.8

b

₹ 12452.8

c

₹ 13228.8

d

₹ 14850.8

answer is C.

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

We have, A=P1+R100n, where Principal (P) = ₹ 52000, Rate (R) = 12%, Number of years (n) = 4.

A= 520001+121004

= 5200028252

= 52000×2825×2825

= 65228.8

CI = A - P = ₹ 65228.8 - ₹ 52000 = ₹ 13228.8.

Therefore, CI on ₹ 52000 for 4 years at 12% per annum compounded annually is ₹ 13228.8.

Watch 3-min video & get full concept clarity

hear from our champions

score_test_img

Get Expert Academic Guidance – Connect with a Counselor Today!

whats app icon