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Find the compound interest earned on Rs.20000 for 2 years at 10% p.a. the interest being compounded annually.

Option 1)
Rs. 2800
Option 2)
Rs.4200
Option 3)
Rs.6300
Option 4)
Rs.5600
Option 5)
Rs.2100

Answers (1)

R rishi.raj

$P = 20000$

$T = 2 years$

R = 10 %

$C.I = P (1 + \frac{R}{100}) ^{T} -P$

$= 2000\left ( 1+\frac{10}{100} \right )^{2}-P$

$24200 -20000$

$= 4200$

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