Ramesh invests ₹ 12800 for three years at the rate of 10% per annum

Question

Ramesh invests ₹ 12800 for three years at the rate of

10 %

per annum compounded annually. Find the sum Ramesh receives at the end of the first year.

Options:

A . ₹15060

B . ₹14000

C . ₹14080

D . ₹13090

Answer: Option C
:
C
Principal = ₹

12800,

Rate

= 10 %

Interest for one year

= \frac{P \times r \times t}{100} = \frac{(12800 \times 10 \times 1)}{100} = ₹ 1280

So, sum due after one year

= 12800 + 1280 = ₹ 14080

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