What would be compound interest (In Rs. ) accrued on amount of Rs. 7400 @ 13.5 p.c.p.a. at end of 2

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6.Interest

medium

What would be the compound interest (In $Rs.$) accrued on amount of $Rs. 7400$ @ $13.5$ $p.c.p.a.$ at the end of $2$ years? (rounded off to two digits after decimal)

A

$2136.87$

B

$2306.81$

C

$2032.18$

D

$2132.87$

Solution

$CI =7400\left[\left(1+\frac{13.5}{100}\right)^{2}-1\right]=7400\left[\left(\frac{113.5}{100}\right)^{2}-1\right]$

$=7400\left[\frac{12882.25-10000}{10000}\right]=7400 \times \frac{2882.25}{10000}= Rs .2132 .87$

Standard 13

Quantitative Aptitude

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