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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.2100

Option: 2
Rs.4200

Option: 3
Rs.6300

Option: 4
Rs.5600

Answers (1)

best_answer

P = 20000

T = 2 years

R = 10 %

C.I = P (1 + R/100) ^T -P

= 2000 [1+ 10/100]² – P

24200 – 20000

= 4200

Posted by

Suraj Bhandari

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