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What will be the compound interest accrued on a till Rs. 6,500 at the rate of 10% per annum in 2 years ??
- ARs. 520.40
- BRs. 7,037.20
- CRs. 533.40
- DRs. 7.030.40
Answer not set
Discussion 1
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CCommunity
Solution
Compound Interest = $P[{(1+\frac{r}{100})}^{2}-1]$.
where P=Principal amount, r = interest.
Compound Interest = $6500[{(1+\frac{10}{100})}^{2}-1]$.
= $6500\times0.21$.
= Rs.$1365$.
Therefore, Option E is correct.
Compound Interest = $P[{(1+\frac{r}{100})}^{2}-1]$.
where P=Principal amount, r = interest.
Compound Interest = $6500[{(1+\frac{10}{100})}^{2}-1]$.
= $6500\times0.21$.
= Rs.$1365$.
Therefore, Option E is correct.