Babita invested a sum of money for 2 years at 4% per annum simple interest and earned Rs.480 as the interest.

How much more amount would she get if she had invested the same sum for the same time at the same rate compounded annually?

Rs 8.40

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Rs 9.60

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Rs 10.50

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Rs 11.50

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Solution

The correct option is B
Rs 9.60

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Babita invested a sum of money for 2 years at 4% per annum simple interest and earned Rs.480 as the interest. How much more amount would she get if she had invested the same sum for the same time at the same rate compounded annually?

The correct option is B Rs 9.60

Babita invested a sum of money for 2 years at 4% per annum simple interest and earned Rs.480 as the interest.

How much more amount would she get if she had invested the same sum for the same time at the same rate compounded annually?

The correct option is B
Rs 9.60