IBPS BANK EXAM TEST 9 - IBPS BANK EXAM Questions and Answers

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What would be the compound interest obtained on an amount of Rs.7790 at the rate of 10 p.c.p.a after two years?

Rs. 1532.60

Rs. 1495.90

Rs. 1653

Rs. 1635

None of these

Answer : Option D

Explanation :

C.I = P[(1+R/100)^T - 1]
= 7790[(1+10/100)² - 1]
= 7790(121/100 - 1)
= 7790 * 21 / 100
= Rs. 1635.9

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