Simple interest accrued on the amount of Rs.14,000 is Rs. 1260 at the

1.	Simple interest accrued on the amount of Rs.14,000 is Rs. 1260 at the rate of 3 % per annum for t years. What would be the compound interest accrued on the same amount for the same years at 10 % per annum compounded annually?1. Rs.46342. Rs.44583. Rs.45344. Rs.12565. Rs.1675
Answer» Correct Answer - Option 1 : Rs.4634 Given: Principal = Rs. 14000, S.I. = Rs. 1260, Rate= 3% per annum, Time = t years Formula used: S.I. = (P × R × T)/100 C.I. = P[(1 + (r/100))^t – 1] Calculation: 1260 = (14000 × 3 × t)/100 ⇒ t = 3 years C.I. = 14000 [(1 + (10/100))³ – 1] ⇒ 14000 [(11/10)³ – 1] ⇒ 14000 × (331/1000) ⇒ Rs.4634

Simple interest accrued on the amount of Rs.14,000 is Rs. 1260 at the rate of 3 % per annum for t years. What would be the compound interest accrued on the same amount for the same years at 10 % per annum compounded annually?1. Rs.46342. Rs.44583. Rs.45344. Rs.12565. Rs.1675

Answer» Correct Answer - Option 1 : Rs.4634

Given:

Principal = Rs. 14000, S.I. = Rs. 1260, Rate= 3% per annum, Time = t years

Formula used:

S.I. = (P × R × T)/100

C.I. = P[(1 + (r/100))^t – 1]

Calculation:

1260 = (14000 × 3 × t)/100

⇒ t = 3 years

C.I. = 14000 [(1 + (10/100))³ – 1]

⇒ 14000 [(11/10)³ – 1]

⇒ 14000 × (331/1000)

⇒ Rs.4634

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Simple interest accrued on the amount of Rs.14,000 is Rs. 1260 at the rate of 3 % per annum for t years. What would be the compound interest accrued on the same amount for the same years at 10 % per annum compounded annually?1. Rs.46342. Rs.44583. Rs.45344. Rs.12565. Rs.1675

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