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Multiple choice

The compound interest on Rs 2000 at 15% for 2 years is Rs ........

  1. 645

  2. 600

  3. 615

  4. 315

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Compound interest = P * ((1 + r/100)^n - 1). CI = 2000 * ((1 + 0.15)^2 - 1) = 2000 * (1.3225 - 1) = 2000 * 0.3225 = 645.

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