Compound Interest Practice Test 5

Question : 12 of 40

Marks: +1, -0

What will be the compound interest for 3 years if Rs 1,200 is being charged at 50% p.a?

Solution:

Amount

=1200(1+50/100)^3

=1200×3/2×3/2×3/2

= 150 × 27 = Rs 4,050
Compound Interest = Amount - P
CI = 4,050 - 1,200 = Rs 2,850

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