Question
Download Solution PDFAn amount of ₹50,000 would become ₹_______ at 20% per annum compound interest, compounded annually, in 4 years.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹50,000
Rate (r) = 20% per annum
Time (t) = 4 years
Formula used:
A = P(1 +
Where, A = Amount
Calculations:
A = 50,000(1 +
⇒ A = 50,000(1 + 0.2)4
⇒ A = 50,000(1.2)4
⇒ A = 1,03,680
∴ The correct answer is option 1.
Last updated on Jul 16, 2025
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