Multiple choice

Find the compound interest on Rs. 23520 at the rate of 4% for 2 years compounded annually. 23520 रुपये पर 2 साल के लिए चक्रवृद्धि दर 4% की दर से चक्रवृद्धि ब्याज ज्ञात कीजिये ।

  1. Rs. 1991.232

  2. Rs. 1199.232

  3. Rs. 1919.232

  4. Rs. 1900.232
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Principal = ₹23,520, rate = 4%, time = 2 years. After year 1: Amount = 23520 × 1.04 = ₹24,460.80. After year 2: Amount = 24460.80 × 1.04 = ₹25,439.232. Compound Interest = 25439.232 - 23520 = ₹1,919.232. Option C is correct. Alternatively: CI = P[(1 + r)^n - 1] = 23520[(1.04)² - 1] = 23520[1.0816 - 1] = 23520 × 0.0816 = ₹1,919.232.

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