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    • Question

      A sum of money amounts to ₹8700 in 2 years at a simple

      interest rate of 8% per annum. If the same sum is invested at compound interest with the same rate and for the same time period, what will be the total amount after 2 years?
      A 8708 Correct Answer Incorrect Answer
      B 8748 Correct Answer Incorrect Answer
      C 8758 Correct Answer Incorrect Answer
      D 8796 Correct Answer Incorrect Answer

      Solution

      Let the principal be P. A = P + {P × R × 2}/ {100} = 8700

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