What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?
Pick one
A) Rs.2592 B) Rs.2492 C) Rs.2352 D) Rs.2382 E) Rs.2362
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. Rs.2592nswer: Rs.2592
<result>A</result>
What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?