Compound Interest Practice Test 1

Question : 15 of 40

Marks: +1, -0

What would be the compound interest obtained on an amount of Rs 7,640 at the rate of 15 per cent per annum an after two years?

Solution:

A = 7,640 R = 15% T = 2 years

A=7640(1+15/100)^2=10,103.9

CI = Amount - Principal
= 1,0103.9 - 7,640
= Rs 2,463.9

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