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What will Rs. 40,000 amount to in 2 years at the rate of 20% p.a., if interest is compounded yearly?

A48620

B58564

C57600

D60000

Answer:

C. 57600

Read Explanation:

Compound interest for 2 years,$Amount=P(1+\frac{R}{100})^2$

ATQ,

P=40,000,R=20P=40,000 , R=20 % , N=2years</p><p style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px" data-pxy="true">$Amount=40000(1+\frac{20}{100})^2$</p><p style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px" data-pxy="true">$=40000\times(\frac{6}{5})^2$</p><p style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px" data-pxy="true">$=\frac{40000\times36}{25}$</p><p style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px" data-pxy="true">$Amount in 2years =57600$</p><p style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px" data-pxy="true">Alternate Method;

image.png

$$Amount in 2years = 40000+8000+8000+16000

$=57600$

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