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Question 185
What will be the compound interest accrued on a till Rs. 6,500 at the rate of 10% per annum in 2 years ‘?
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.
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