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    Question

    If Rs. 15000 is invested at 14% per annum, compounded

    yearly, calculate the interest earned in one year.
    A Rs.3152 Correct Answer Incorrect Answer
    B Rs.3264 Correct Answer Incorrect Answer
    C Rs.2100 Correct Answer Incorrect Answer
    D Rs.3040 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Given: Principal (P) = ₹15000 Rate (R) = 14% Time (T) = 1 year Compounded annually Formula = Amount (A) = P × (1 + R/100) A = 15000 × (1 + 14/100) = 15000 × 1.14 = ₹17100 Interest = A - P = 17100 - 15000 = ₹2100

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