Question

The compound interest on $Rs2000$ at $15\%$ for $2$ years is Rs ........

• A. $645$
• B. $600$
• C. $615$
• D. $315$

Answer 1

The correct option is A $645$

Given,

Principal, $P=Rs.2000$

Rate of interest, $r=15\%$

Time, $t=2$ years

Let,amount $=A$

so,$A=P(1+\frac{r}{100}{)}^t$

$=\left(2000\right){(1+\frac{15}{100})}^2$

$=\left(2000\right)(1.15{)}^2$

$=2645$

CI$=A-P$

$=Rs.(2645-2000)$

$=Rs.645$