Q3 of 96 Page 287

Out of the four options, only one is correct. Write the correct answer.

The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is

Given principal (P) = ₹50000


Rate of interest (R) = ₹4% per annum


Time period (T) = 2yr


We know that,


A = P


A =


=


=


=


= ₹54080


∴ Compound interest, CI = A – P = ₹54080 – ₹50000 = ₹4080


Hence, option (b) is correct.

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