Question : What is the Compound Interest (in Rs.) on Rs. 12500 at the rate of 12% per annum compounded yearly for 2 years?
Option 1: Rs. 3000
Option 2: Rs. 2980
Option 3: Rs. 3050
Option 4: Rs. 3180
Answer (1)
25th Jan, 2024
Correct Answer: Rs. 3180
Solution :
Principal, P = Rs. 12500
Time = 2 years
Rate = 12%
Compound Interest = P[
= 12500[
= 12500[
= 12500[1.2544 – 1]
= 12500 × 0.2544 = Rs. 3180
Hence, the correct answer is Rs. 3180.
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