the compound interest on rs 20480 at 6 1 4 per annum, Compound Interest, General Mathematics

Question:The compound interest on Rs.`20480` at `6 1/4%` per annum for `2` years `73` days is :

A `Rs. 3000` 
B `Rs. 3131` 
C `Rs. 2929` 
D `Rs. 3636`

/44

+ AnswerC

+ ExplanationTime`= 2 73/365` years `= 2 1/5` years 

:. Amount` = Rs. [ 20480 xx (1 + 25/(4 xx 100)^2 (1 + (1/5 xx 25/4)/100)]`

`= Rs. (20480 xx 17/16 xx 17/16 xx 81/80)`

`= Rs. 23409`.

:. C.I.` Rs. (23409 - 20480)`

`= Rs. 2929`.

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