Question

Find the compound interest on Rs. 18,000 at the rate of 6% per annum in 2 years ?

• A. 2224.8
• B. 2000
• C. 1200
• D. 222480

Answer 1

Answer:

A. 2224.8

$CI = P[1+\frac{r}{100}]^2-P$

P = 18000

r=6%

$CI=18000[1+\frac{6}{100}]^2-P$

CI = 20224.8-18000

CI=2224.8 Rs