Question

Calculate the compound interest for the second year on Rs. $15,000$ invested for $4$ years at $10\%$ per annum.

• A. $1815$
• B. $1996.5$
• C. $1500$
• D. $1650$

Answer 1

Answer: (D)

$1650$

Here $P=$ Rs. $15000$ and $R=10\%$

C.I. for second year $=$ $P\times R\times (1+\frac{R}{100})$

$=$ $15000\times \frac{10}{100}\times (1+\frac{10}{100})$

$=$ $1500\times \frac{11}{10}$

Therefore, C.I. for second year $=$ Rs. $1650.$