What would be the compound interest accrued on an amount of Rs. 8400 @ 12.5 p.c.p.a at the end of 3 years ?
a) Rs. 2584.16
b) Rs. 3820.14
c) Rs. 3560.16
d) Rs. 4205.62
Answer: c
Explanation:
$$\eqalign{
& {\text{Amount}} \cr
& {\text{ = Rs}}{\text{.}}\left[ {8400 \times {{\left( {1 + \frac{{25}}{{2 \times 100}}} \right)}^3}} \right] \cr
& = {\text{Rs}}{\text{.}}\left( {8400 \times \frac{9}{8} \times \frac{9}{8} \times \frac{9}{8}} \right) \cr
& = {\text{Rs}}{\text{.}}\left( {\frac{{382725}}{{32}}} \right) \cr
& = {\text{Rs}}.11960.156 \approx {\text{Rs}}.11960.16 \cr
& {\text{C}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {11960.16 – 8400} \right) \cr
& = {\text{Rs}}{\text{.}}\,3560.16 \cr} $$
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