Multiple choice

Calculate the amount and the compound interest on Rs. 7,500 in 2 years and at 6% compounded annually.

  1. Rs. 563

  2. Rs. 927

  3. Rs. 1433

  4. Rs. 1921
Reveal answer Fill a bubble to check yourself
B Correct answer
AI explanation

Using the compound interest formula, the total amount is calculated as 7500 multiplied by the quantity 1 plus 0.06 raised to the power of 2, giving 7500 times 1.1236, which equals Rs. 8427. The compound interest is the final amount minus the principal, so 8427 minus 7500 equals Rs. 927.

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