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      Question

      Find the compound interest on Rs. 5000 at 12% per annum

      for 2 years, compounded annually.
      A 1272 Correct Answer Incorrect Answer
      B 1320 Correct Answer Incorrect Answer
      C 1650 Correct Answer Incorrect Answer
      D 1125 Correct Answer Incorrect Answer

      Solution

      Amount A = P(1 + r/100)ยฒ = 5000 ร— (1 + 12/100)ยฒ = 5000 ร— (1.12)ยฒ = 5000 ร— 1.2544 = 6272 Compound interest = A โˆ’ P = 6272 โˆ’ 5000 = 1272

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