At 12% rate for 3 years how much amount will become ₹ 4590 ?
A) ₹ 3375
B) ₹ 2375
C) ₹ 1475
D) ₹ 1290
Correct option is (A) ₹ 3375
Let the amount be Rs x.
R = 12%
T = 3 years
Amount after 3 years = Rs 4590
\(\therefore\) \(x+\frac{x\times12\times3}{100}\) = 4590 (Amount after 3 years \(=P+\frac{PRT}{100})\)
\(\Rightarrow\) \(x+\frac{9x}{25}\) = 4590
\(\Rightarrow\) \(\frac{34x}{25}\) = 4590
\(\Rightarrow\) \(x=\frac{4590\times25}{34}\) = 3375