Compound Interest Practice Test 5

Question : 16 of 40

Marks: +1, -0

Find the interest received by Bhaskar for 2 years at 12.5% per annum compound interest for Rs 76,200.

Solution:

Amount

=P(1+r/100)^t

=76200(1+12.5/100)^2=96440.625

Interest = Amount - P = 96,440.625 - 76,200
Interest = 20,240.625

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