Question
Download Solution PDFFind the compound interest on Rs. 80,000 at 10% per annum for 2 year
This question was previously asked in
RPF Constable 2024 Official Paper (Held On 02 Mar, 2025 Shift 2)
Answer (Detailed Solution Below)
Option 2 : ₹16,800
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RPF Constable Full Test 1
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Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹80,000
Rate (r) = 10%
Time (t) = 2 years
Formula used:
A = P(1 + r/100)t
Compound Interest (CI) = A - P
Calculation:
A = 80000(1 + 10/100)2
⇒ A = 80000(1 + 0.1)2
⇒ A = 80000(1.1)2
⇒ A = 96800
CI = A - P
⇒ CI = 96800 - 80000
⇒ CI = 16800
∴ The correct answer is option 2.
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