Question

    Ravi invested Rs. 25,000 for 2 years at a compound interest

    rate of 20% per annum, compounded annually. What will be the total amount he will get after 2 years?
    A Rs.35,720 Correct Answer Incorrect Answer
    B Rs.36,000 Correct Answer Incorrect Answer
    C Rs.25,550 Correct Answer Incorrect Answer
    D Rs.32,660 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Desired amount = 25000 × {1 + (20/100)}²

    = 25000 × (1.2)²

    = 25000 × 1.44

    = Rs. 36,000

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