Multiple choice

What will be compound interest on an amount of Rs. 8500 at the rate of 10 p.c.p.a. after 2 years?

  1. Rs. 1875

  2. Rs. 1885

  3. Rs. 1775

  4. Rs. 1765

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

Compound Interest = P(1 + r/100)^n - P = 8500(1 + 10/100)² - 8500 = 8500 × 1.21 - 8500 = 10285 - 8500 = Rs. 1785. None of the given options (1875, 1885, 1775, 1765) match this value.

Keep practicing — related questions