Multiple choice

What will be the compound interest accrued on a sum of Rs. 36000 at the rate of 8 p.c.p.a. in 2 years?

  1. Rs. 5860.60

  2. Rs. 5990.40

  3. Rs. 5786.70

  4. Rs. 5576.70

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Compound Interest formula: A = P(1 + r/100)^n. Here P = 36000, r = 8%, n = 2 years. A = 36000 × (1.08)^2 = 36000 × 1.1664 = 41990.40. CI = A - P = 41990.40 - 36000 = 5990.40. Option B matches this calculation.

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