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Question

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

A
1815
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B
1996.5
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C
1500
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D
1650
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Solution

The correct option is C 1650
Here P= Rs. 15000 and R=10%
C.I. for second year = P×R×(1+R100)
= 15000×10100×(1+10100)
= 1500×1110
Therefore, C.I. for second year = Rs. 1650.

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