Mathematics · Compound Interest
A father deposited ₹60,000 in a compound interest scheme for his son's business when the son turned 20 years old. The scheme offers 15% compound interest per annum, compounded annually. What total amount will the son receive when he turns 24 years old?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,66,987.00
- 2₹1,45,670.45
- 3₹1,12,450.00
- 4₹1,04,940.38✓
Correct answer
₹1,04,940.38
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