What would be the C.I. obtained on an amount | vedclass

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Question

(C) The formula for Compound Interest $(C.I.)$ is given by: $C.I. = P \left[\left(1 + \frac{R}{100}\right)^{n} - 1\right]$Given:Principal $(P)$ = $Rs.

Vedclass · Accepted Answer

$3540$

Vedclass · Answer

(C) The formula for Compound Interest $(C.I.)$ is given by: $C.I. = P \left[\left(1 + \frac{R}{100}ight)^{n} - 1ight]$Given:Principal $(P)$ = $Rs. 12000$Rate $(R)$ = $9\% \, p.c.p.a$Time $(n)$ = $3 \, 	ext{years}$Substituting the values in the formula:$C.I. = 12000 \left[\left(1 + \frac{9}{100}ight)^{3} - 1ight]$$C.I. = 12000 \left[(1.09)^{3} - 1ight]$$C.I. = 12000 \left[1.295029 - 1ight]$$C.I. = 12000 	imes 0.295029$$C.I. = 3540.348$Rounding to the nearest integer,the value is approximately $Rs. 3540$.

What would be the $C.I.$ obtained on an amount of $Rs. 12000$ at the rate of $9 \,p.c.p.a$ for $3$ years (in $Rs.$)?

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