Question 156
What would be the compound interest obtained on an amount of Rs, 7,790 at the rate of 10 p.c.p,a. after two years ?
Solution
Compound interest = $$7790((1+\frac{10}{100})^{2}-1)$$.
=$$7790(1.1^{2}-1)$$.
=$$7790\times.21$$.
=Rs. 1635.90.
Hence, Option D is correct.
Get AI Help
Create a FREE account and get:
- Banking Quant Shortcuts PDF
- Free Banking Study Material - (15000 Questions)
- 135+ Banking previous papers with solutions PDF
- 100+ Online Tests for Free
