Question : What will a person get after 3 years at compound interest, when the principal is Rs. $S$ and the rate of interest is $2r$% per annum?
Option 1: Rs. $\frac{6Sr}{100}$
Option 2: Rs. $S(1+\frac{r}{100} )^{3}$
Option 3: Rs. $S( 1+\frac{r}{50} )^{3}$
Option 4: Rs. $3S( 1+\frac{r}{100} )^{3}$
Correct Answer: Rs. $S( 1+\frac{r}{50} )^{3}$
Solution :
Given: Principal = Rs. $S$
Rate of interest = $2r$%
Time = 3 years
Formula :
$A = P[1+\frac{R}{100}]^{n}$
Solution :
$A = S[1+\frac{2r}{100}]^{3}$
$A = S[1+\frac{r}{50}]^{3}$
Hence, the correct answer is $S[1+\frac{r}{50}]^{3}$.
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