Mathematics · Compound Interest

Find the amount Ravi needs to return to Monu, if he had borrowed Rs. 3,000 from Monu at 4% p.a. compound interest, compounded annually, 2 years ago.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Rs. 3,453.90
2Rs. 4,321.00
3Rs. 2,344.80
4Rs. 3,244.80✓

Correct answer

Rs. 3,244.80

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Find the amount Ravi needs to return to Monu, if he had borrowed Rs. 3,000 from Monu at 4% p.a. compound interest, compounded annually, 2 years ago.

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Find the amount Ravi needs to return to Monu, if he had borrowed Rs. 3,000 from Monu at 4% p.a. compound interest, compounded annually, 2 years ago.

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