Aman gave Rs. $9500$ as a loan to Megh at the rate of $4 %$ p.a. compounded yearly. Megh returned the amount after two years. Calculate the interest on the first year's interest.

380

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270

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15.2

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40

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Solution

The correct option is C $15.2$
$P = 9500, R = 4, T = 2$ years

Interest in $1$ year $= \frac{P \times R \times 1}{100}$ $= \frac{9500 \times 4}{100}$ $= 380$

Interest on interest $= \frac{380 \times 4 \times 1}{100}$ $= 15.2$

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Aman gave Rs.9500 as a loan to Megh at the rate of 4% p.a. compounded yearly. Megh returned the amount after two years. Calculate the interest on the first year's interest.

The correct option is C 15.2P=9500,R=4,T=2 yearsInterest in 1 year=P×R×1100=9500×4100=380Interest on interest=380×4×1100=15.2

Aman gave Rs. $9500$ as a loan to Megh at the rate of $4 %$ p.a. compounded yearly. Megh returned the amount after two years. Calculate the interest on the first year's interest.

The correct option is C $15.2$
$P = 9500, R = 4, T = 2$ years

Interest in $1$ year $= \frac{P \times R \times 1}{100}$ $= \frac{9500 \times 4}{100}$ $= 380$

Interest on interest $= \frac{380 \times 4 \times 1}{100}$ $= 15.2$