Compound Interest Practice Test 1

Question : 26 of 40

Marks: +1, -0

What would be the compound interest accrued on an amount of Rs 9,000 at the rate of 11 per cent per annum in two years?

Solution:

Amount = Rs 9,000; R = 11%; T = 2 years.

9000=P(1+11/100)^2

9000=P(111/100)^2

P={100×100×9000}/{111×111}

= Rs 7,304.60
Compound Interest = 9,000 - 7,304.60 = Rs 1,695.39

Go to Question:

Prev Question

Next Question