Multiple choice

What would be the compound interest obtained on an amount of Rs.7,790 at the rate of 10 pcpa after two years?

  1. 1532.60

  2. 1495.90

  3. 1653.50

  4. 1635.90

  5. None
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Compound interest = P * ((1 + r/100)^n - 1). For P=7790, r=10, n=2: 7790 * ((1.1)^2 - 1) = 7790 * (1.21 - 1) = 7790 * 0.21 = 1635.90.

AI explanation

Using the compound interest formula for two years, CI equals P multiplied by R squared divided by 100 plus P times R times 2 divided by 100. Substituting the values gives 7790 times 10 squared divided by 100 plus 7790 times 10 times 2 divided by 100, resulting in 779 plus 1558, which equals 1635.90.

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