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The compound interest on Rs. 64,000 for 3 years, compounded annually at 7.5% p.a. is
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- Rs. 14,400
- Rs. 15,705
- Rs. 15,507
- Rs. 15,075
Correct Option: C
Here , Amount ( A ) = ? , P = Rs. 64,000 , Rate = 7.5% , Time = 3 years
Using the given formula ,
| A = P |  | 1 + |  | T | |
| 100 |
| A = 64000 | | 1 + | | 3 | |
| 100 |
| A = 64000 | | 1 + | | 3 | |
| 40 |
| A = 64000 | | | 3 | |
| 40 |
| A = | = Rs. 79507 | |
| 40 × 40 × 40 |
∴ C.I. = Amount ( A ) - Principal ( P )
∴ C.I. = Rs. (79507 – 64000) = Rs. 15507
