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)

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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