A sum of Rs. 15000 is invested at 10% compound interest for 2 years. Find the amount after 2 years.

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RRB NTPC Exam 27 Jan 2021 click here to view all questions

A sum of Rs. 15000 is invested at 10% compound interest for 2 years. Find the amount after 2 years.

ARs. 15510

BRs. 18150

CRs. 19820

DRs. 18754

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correct answer is: option b (b)[Rs. 18150] Explanation: The formula for compound interest is $A = P(1 + \frac{r}{100})^n$, where A is the amount after n years, P is the principal amount, r is the rate of interest, and n is the number of years. In this case, P = Rs. 15000, r = 10%, and n = 2 years. So, $A = 15000(1 + \frac{10}{100})^2 = 15000(1 + 0.1)^2 = 15000(1.1)^2 = 15000 * 1.21 = 18150$. Therefore, the amount after 2 years is Rs. 18150 Akhilesh ? answered Apr 1 '25 at 20:45

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