Rs. 5000 are invested in a scheme of compound interest. If the rate of – InterviewSolution

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1.

Rs. 5000 are invested in a scheme of compound interest. If the rate of interest is 12% per annum, then what is the interest earned (in Rs) in 2 years?1). 14502). 12723). 15204). 3450

Answer»

Given,

P = 5000

R = 12%

T = 2

$(\Rightarrow CI = P \times {\LEFT( {1 + \FRAC{R}{{100}}} \right)^T})$

$(\Rightarrow CI = 5000 \times {\left( {1 + \frac{{12}}{{100}}} \right)^2} = 6272)$

∴ Amount earned in CI = 6272 - 5000 = Rs. 1272

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