Correct Answer - Option 2 : Rs. 2735
Given
P = Rs. 2000, Rate = 11% per an um and Time = 3 years
Formula used
A = P[1 + (r/100)]t
Where, A, P, r and t are Amount, Principal, Rate and time respectively.
Calculation:
A = 2000[1 + (11/100)]3
⇒ A = 2000(111/100)3
⇒ A = 2000 (1367631/1000000)
⇒ A = Rs. 2735.2(approx)
⇒ A = Rs. 2735
∴ Rs. 2735 will be the amount on sum of Rs. 2000 at 11% per annum for 3 years.
