What will Rs 1500 amount to in three years if it is invested in 20 p a compound interest interest be...........

Quantitative Aptitude ( CCS) Compound Interest

What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?

2592

2492

2352

2652

The usual way to find the compound interest is given by the formula A = .p(1+r/100)^n

In this formula,

A is the amount at the end of the period of investment

P is the principal that is invested

r is the rate of interest in % p.a

And n is the number of years for which the principal has been invested.

In this case, it would turn out to be A =1500(1+20/100)³= 2592.

Hence, option 1 is the correct answer.

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