The compound interest on Rs. 5000 at 30% per annum in 4 years is :
Posted on 27-04-2023
Ques - The compound interest on Rs. 5000 at 30% per annum in 4 years is :
(a) 4280.5
(b) 6700
(c) 9280.5
(d) 3857.5
Solution -
Given,
P = 5000
R = 30%
T = 4
A = P (1 + (r/100))n
A = 5000 (1 + (30/100))4
A = 5000 ((13/10))4
A = 5000 (28561/10000)
A = 28561/2
A = 14280.5
C.I. = Amount - Principal
C.I. = 14280.5 - 5000
C.I. = 9280.5
The compound interest is 9280.5
Hence,
The correct answer is option (c) 9280.5
Thank You