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- What would be the compound interest accrued on an amount of 6500 Rs.
Question 1:
What would be the compound interest accrued on an amount of 6500 Rs. at the end of 2 years at the rate of 15 % per annum ? A. 8596.25
B. 2096.25
Feedback Given principal = 6500
No. of years = 2
Rate of interest = 15
Amount = P [ 1 + ( r / 100 )n]
= 6500 x [ 1 + ( 15 /100 )2]
= 6500 x [ 1 + ( 3 / 20 )2]
= 6500 x [ 23 / 20 ]2
= 6500 x [ 529 / 400 ]
Amount =8596.25
Compound Interest = Amount - Principal
= 8596.25 - 6500
= 2096.25
No. of years = 2
Rate of interest = 15
Amount = P [ 1 + ( r / 100 )n]
= 6500 x [ 1 + ( 15 /100 )2]
= 6500 x [ 1 + ( 3 / 20 )2]
= 6500 x [ 23 / 20 ]2
= 6500 x [ 529 / 400 ]
Amount =8596.25
Compound Interest = Amount - Principal
= 8596.25 - 6500
= 2096.25
C. 8589.75
D. 8589.25
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