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Compound Interest

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  1. The compound interest on Rs. 2800 for 11/2 years at 10% per annum is ?
    1. Rs. 441.35
    2. Rs. 436.75
    3. Rs. 434
    4. Rs. 420
Correct Option: C

∵ Final Amount = Rs.[2800 x (1 + 10/100) x (1 +5/100)]
= Rs. [ 2800 x 11/10 x 21/20 ]
= Rs. 3234

∴ Required C.I. = Rs.(3234 - 2800) = Rs .434


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