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    Question

    What will be the compound interest earned after 2 years

    on a deposit of Rs. 14,000 at an annual interest rate of 30%, compounded annually?
    A Rs. 9660 Correct Answer Incorrect Answer
    B Rs. 9820 Correct Answer Incorrect Answer
    C Rs. 9460 Correct Answer Incorrect Answer
    D Rs. 9740 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    CI = A - P CI = P x (1 + rate/100)t - P  Required interest = 14000 × {(1.3)2 – 1} = Rs. 9660

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