Practice mode Compound Interest

Sana deposits Rs. 12,500 at 8% per annum compound interest, compounded annually. What amount will she receive after 2 years?

Correct answer C. Rs. 14,580

Explanation

A = 12500 × (1.08)² = 12500 × 1.1664 = Rs. 14,580. The compound interest earned is 14580 − 12500 = Rs. 2,080, compared with Rs. 2,000 as simple interest.

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Sana deposits Rs. 12,500 at 8% per annum compound interest, compounded annually. What amount will she receive after 2 years?

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Sana deposits Rs. 12,500 at 8% per annum compound interest, compounded annually. What amount will she receive after 2 years?

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