If a sum of Rs 8000 lended for 20 per annum at compound interest then the sum of the amount will be ...........

Quantitative Aptitude ( CCS) Compound Interest

If a sum of Rs.8000 lended for 20% per annum at compound interest then the sum of the amount will be Rs.13824 in

2 years

1year

3years

4years

P = Rs.8000, R = 20% per annum
P(1 + R/100)ⁿ
Rs.13824 = 8000 * (1 + 20/100)ⁿ
(12/10)³ = (12/10)ⁿ
n=3

Hence, option 3 is the correct answer.

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