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.
Answer: Option C
:
C
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:
C
Principal = ₹ 12800, Rate =10%
Interest for one year =P × r × t100=(12800 × 10 × 1)100=₹ 1280
So, sum due after one year =12800+1280=₹14080
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