Question

Compound interest on 8000 at 15 percent per annum for 2 years 4 months compounded annually solution without formulae

Answer 1

The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is :

[A]Rs. 3109

[B]Rs. 3091

[C]Rs. 2980

[D]Rs. 3100

3109 Rs.

∴ Compound Interest = Rs. (11109 – 8000) = Rs. 3109

Hence option [A] is the right answer!!!!!