Question Details

Detailed explanation and options for the selected question.

What is the compound interest on Rs. 5000 for 3 years at 6% per annum compounded annually?

A. Rs. 950

B. Rs. 955

C. Rs. 960

D. Rs. 970

Explanation:

CI = 5000×((1.06^3)–1) ≈ 5000×0.191016 ≈ Rs. 955.