Question

What will be the compound interest on a sum of Rs.15000 after 5 years at the rate of 20%p.a compounded annually?

• A. Rs.22324.8
• B. Rs. 20280
• C. Rs.10123.20
• D. Rs.10483.20

Answer 1

The correct option is A

Rs.22324.8

$A=15000(1+\frac{20}{100}{)}^5$

$A=Rs.37324.80$

$Interest=Rs.22324.80$