LIVE Course for free

Rated by 1 million+ students
Get app now
JEE MAIN 2023
JEE MAIN 2023 TEST SERIES
NEET 2023 TEST SERIES
NEET 2023
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
62 views
in Aptitude by (54.0k points)
closed by

What will be the compound interest on a sum of ₹ 45,000 at compound interest compounded annually at 8% per annum in two years?


1. Rs. 7466
2. Rs. 7588
3. Rs. 7355
4. Rs. 7488

1 Answer

0 votes
by (30.0k points)
selected by
 
Best answer
Correct Answer - Option 4 : Rs. 7488

Given:

Principal = Rs. 45,000

Rate = 8%

Time = 2 years

Calculation:

CI = P(1 + R)n – P

⇒ 45,000(1 + 8/100)2 – 45000

⇒ 45000(27/25)2 – 45000

⇒ 45000(729/625 – 1)

⇒ 45000 × 104/625    

⇒ Rs.7488

∴ the compound interest is Rs. 7488.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...