Compound interest accrued on an amount at end of 3 years @ 15 p.c.p.a. is Rs. 6500.52 . amount (In R

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6.Interest

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The compound interest accrued on an amount at the end of $3$ $years$ $@$ $15$ $p.c.p.a.$ is $Rs. 6500.52 .$ What is the amount (In $Rs.$) ?

A

$12480$

B

$10500$

C

$14800$

D

$13620$

Solution

$6500.52= P \left[\left(1+\frac{15}{100}\right)^{3}-1\right]$

$= P \left[\frac{23 \times 23 \times 23-20 \times 20 \times 20}{20 \times 20 \times 20}\right]=\frac{ P \times 4167}{8000}$

$\therefore \quad P =\frac{6500.52 \times 8000}{4167}= Rs .12480$

Standard 13

Quantitative Aptitude

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