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At 5% compound interest per annum the co...

At 5% compound interest per annum the compound interest on Rs. 10000 for 3 years is

A

Rs. 1567.25

B

Rs. 1567.52

C

Rs. 1657.25

D

Rs. 1576.25

Text Solution

Verified by Experts

The correct Answer is:
D
Rs. 1576.25
The required compound interest `=Rs. 10000(1+5/100)^(3)-Rs. 10000`
`=Rs. 10000(1+1/20)^(3)-Rs. 10000`
`=Rs. 10000{(21/20)^(3)-1}`
`=Rs. 1000(9261/8000)-1`
`=Rs. 10000xx1261/8000`
`=Rs. (10xx1261)/8=Rs. 176.25`
`:.` d is the correct answer.
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