Question

Calculate the compound interest for the Second year on Rs. $15,000$ invested for $5$ years at $10$% per annum.

• A. $1500$
• B. $1650$
• C. $1800$
• D. $2000$

Answer 1

Answer: (B)

$1650$

$\Rightarrow$ $P=Rs.15,000,R=10\%$

$\Rightarrow$ C.I. for second year = $15000\times \frac{10}{100}\times (1+\frac{10}{100})$

$\Rightarrow$ C.I. for second year = $1500\times \frac{11}{10}$

$\therefore$ C.I. for second year = $Rs.1650.$