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If a sum of ₹2,000 is invested at an interest rate of 6% per annum compounded annually for 3 years, what will be the amount after 3 years?
Question:
If a sum of ₹2,000 is invested at an interest rate of 6% per annum compounded annually for 3 years, what will be the amount after 3 years?
Choose the correct answer:
- A. ₹2,120
- B. ₹2,382.03 ✅ Correct
- C. ₹2,000
- D. ₹2,500
Explanation:
The final amount is calculated using the compound interest formula A = P(1 + R/100)^T
The final amount is calculated using the compound interest formula A = P(1 + R/100)^T
Related Questions & One-Liners
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Related MCQs
If the principal is ₹1,000, the rate of interest is 5% per annum, and the time is 2 years, what is the simple interest?
Explanation:
Simple interest is calculated using SI = (P x R x T) / 100
Simple interest is calculated using SI = (P x R x T) / 100
If the interest is compounded half-yearly, how many times per year is the interest compounded?
Explanation:
Half-yearly compounding means the interest is compounded twice a year
Half-yearly compounding means the interest is compounded twice a year
The simple interest on a sum of ₹12,000 at 6% per annum for 4 years is:
Explanation:
Simple interest is calculated using the formula SI = (P x R x T) / 100
Simple interest is calculated using the formula SI = (P x R x T) / 100
In compound interest, if the interest is compounded quarterly, the number of compounding periods in a year is:
Explanation:
Quarterly compounding means the interest is compounded 4 times a year
Quarterly compounding means the interest is compounded 4 times a year
The simple interest on ₹5,000 at 8% per annum for 3 years is:
Explanation:
The simple interest is calculated as ₹1,200
The simple interest is calculated as ₹1,200
If ₹6,000 becomes ₹7,200 in 2 years at simple interest, what is the rate of interest?
Explanation:
The rate of interest is 10% using SI = (P x R x T) / 100
The rate of interest is 10% using SI = (P x R x T) / 100
If 3 men and 4 boys complete a work in 7 days and 2 men and 3 boys do the same work in 10 days . In
Explanation:
In an election between two candidates 10% voters doesn’t cast their votes and 85 votes were de
Explanation:
Lets take total votes =100% 10%doesn’t cast their votes So, (100-90) = 90% cast their votes. total valid votes = 90% -85 one candidate get 50% of votes of voters list. So, other candidate get = (90% - 85 )-50%= 40% - 85 so ,50 % - (40% - 85) = 165 50% - 40% + 85 = 165 10% = 80 100 % = 800 So total voters is 800
Lets take total votes =100% 10%doesn’t cast their votes So, (100-90) = 90% cast their votes. total valid votes = 90% -85 one candidate get 50% of votes of voters list. So, other candidate get = (90% - 85 )-50%= 40% - 85 so ,50 % - (40% - 85) = 165 50% - 40% + 85 = 165 10% = 80 100 % = 800 So total voters is 800
A Trader Who Marks His Good Upto 50% And Offered Discount Of 20% . What % Profit The Trade Makes After Offering The Payment?
Explanation:
Sol. Let cp = 100, MRP = 150
\( sp = 150 \times {80 \over 100} \)
\( = Rs. 120 \)
Hence, Profit = 20%
[short trick:]
By successive formula
\( x+y+{xy \over 100} \)
\( 50-20+{50 \times (-20) \over 100} \)
30 – 10 = 20%
Sol. Let cp = 100, MRP = 150
\( sp = 150 \times {80 \over 100} \)
\( = Rs. 120 \)
Hence, Profit = 20%
[short trick:]
By successive formula
\( x+y+{xy \over 100} \)
\( 50-20+{50 \times (-20) \over 100} \)
30 – 10 = 20%
What number has 5 to 1 ratio to the number 10?
Explanation:
Given, ratio is 5 : 1 that means antecedent is 5 times greater than the consequent.
Given consequent = 10, so the number is 10 × 5 = 50 answer.
Given, ratio is 5 : 1 that means antecedent is 5 times greater than the consequent.
Given consequent = 10, so the number is 10 × 5 = 50 answer.
There are 120 students in a picnic tour, if ratio of girls and boys is 5 : 7 then how many boys are in this tour?
Explanation:
Given ratio of girls : boys = 5 : 7 = 5/7
multiplying the antecedent and consequent by the same number, let by x,
girls = 5x, and boys = 7x
total = 120;
as par given 5x + 7x = 120
=> x = 120/12 = 10
hence, girls = 5 × 10 = 50
and Boys = 7 × 10 = 70 answer
Given ratio of girls : boys = 5 : 7 = 5/7
multiplying the antecedent and consequent by the same number, let by x,
girls = 5x, and boys = 7x
total = 120;
as par given 5x + 7x = 120
=> x = 120/12 = 10
hence, girls = 5 × 10 = 50
and Boys = 7 × 10 = 70 answer
in 3 : 5 , here 3 is
Explanation:
in a ratio the first term is called antecedent and the second term is called consequent. in 3 : 5, 3 is antecedent and 5 is consequent, means and extremes are terms used in case of proportion
i.e. 1 : 2 :: 2 : 4, here 1 and 4 are extremes and 2 and 2 are means.
in a ratio the first term is called antecedent and the second term is called consequent. in 3 : 5, 3 is antecedent and 5 is consequent, means and extremes are terms used in case of proportion
i.e. 1 : 2 :: 2 : 4, here 1 and 4 are extremes and 2 and 2 are means.
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