A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.
Options:
A . Rs.2520
B . Rs.3120
C . Rs.3320
D . Rs.2760
E . None of these
Answer: Option B
Let A be the amount received at the end of the three years. A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]A = (4800 * 11 * 6 * 5)/(10 * 5 * 4) A = Rs.7920 So the interest = 7920 - 4800 = Rs.3120
Submit Comment/FeedBack