What is the compound interest on ₹15,000 for 2 years at 20% per annum, compounded annually?

Compound Interest · Quantitative Aptitude · Medium · Practice for SSC CGL Tier 1

What is the compound interest on ₹15,000 for 2 years at 20% per annum, compounded annually?

  1. ₹6,750
  2. ₹21,600
  3. ₹6,000
  4. ₹6,600
Answer and solution

Correct answer: D) ₹6,600

A = 15,000 × (1 + 20/100)² = ₹21,600; CI = A − P = ₹6,600.

Learn the method: Compound Interest rules and worked examples · SSC CGL Tier 1 Quantitative Aptitude

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