Multiple choice

What will be compound interest accrued on an amount of Rs. 275000 at the rate of 16 p.c.p.a. at the end of 4 years? (approx.)

  1. Rs. 222025.80

  2. Rs. 222925.80

  3. Rs. 223019.20

  4. Rs. 223189.70

  5. Rs. 223378.12
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Compound Interest = P(1 + r/100)^n - P = 275000(1.16)^4 - 275000. (1.16)^4 ≈ 1.8106. Amount = 275000 × 1.8106 ≈ 497,915. CI = 497,915 - 275,000 = 222,915 (approx). Option B (222,925.80) matches.

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