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    Question

    Suppose an investment of Rs. 20,000 is made in a

    financial scheme where the interest is compounded annually. The interest rate for the first year is 12% per annum, and for the second year, it increases to 15% per annum. Calculate the total amount accumulated at the end of two years.
    A Rs. 25,840 Correct Answer Incorrect Answer
    B Rs. 27,560 Correct Answer Incorrect Answer
    C Rs. 25,760 Correct Answer Incorrect Answer
    D Rs. 27,360 Correct Answer Incorrect Answer

    Solution

    Amount after 2 years = 20000 x 1.12 x 1.15 = Rs. 25,760 Hence, option c.

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