Compound Interest Practice Test 1

Question : 23 of 40

Marks: +1, -0

The compound interest on Rs. 2500 at the rate of 6% p.a. after 2 years will be:

Solution:

C.I. = 2500[(1+6/100)^2-1]

=2500[2809/2500-1]

=2500×309/2500=309

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