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    Question

    The interest on 24,000 in a year compounded annually

    when the rates are 8% p.a. and 10% p.a. for two successive years is:
    A 4312 Correct Answer Incorrect Answer
    B 4512 Correct Answer Incorrect Answer
    C 4400 Correct Answer Incorrect Answer
    D 4200 Correct Answer Incorrect Answer

    Solution

    compound interest of two successive years - =8+10+(8×10)/100 =18.80% ATQ- 100=24000 1=24000/100 18.80=24000×18.80/100 =240×18.80 =4512

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