The compound interest on Rs.2000 in 2 years if the rate of interest is 4% per an

Question

The compound interest on Rs.2000 in 2 years if the rate of interest is 4% per annum for the first year and 3% per annum for the second year, will be

Options:

A . Rs.143.40

B . Rs.142.40

C . Rs.141.40

D . Rs.140.40

Answer: Option B
Answer: (b)Using Rule 3,Amount = $2000(1 + 4/100)(1 + 3/100)$= 2000 ×1.04 ×1.03 = Rs.2142.40CI = Rs.(2142.40 - 2000) = Rs.142.40

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