Multiple choice

What would be the compound interest obtained on an amount of Rs. 7,640 at the rate of 15 percent per annum after two years.

  1. Rs. 2463.90

  2. Rs. 2469.30

  3. Rs.2643.90

  4. Rs. 2634.90

  5. Rs. 2436.90
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Compound Interest = P[(1+r/100)^n - 1]. For P=7640, r=15%, n=2: CI = 7640[(1+0.15)^2 - 1] = 7640[1.3225 - 1] = 7640×0.3225 = 2463.90. Option A is correct.

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