- ARs 2200
- BRs 2000
- CRs 2100
- DRs 4200
Step-by-Step Solution
After 1 year amount = 20000 * 1.1 = 22000. Second-year interest = 10% of 22000 = Rs 2200.
Answer: A) Rs 2200
Mr. Sharma invests Rs 20000 in a scheme that gives 10% per annum compounded annually.
Find the interest he earns only in the SECOND year.
Class 8Compound InterestComparing Quantities
Master this chapter in 30 minutes a day.
Don't just memorise the answer — build a daily practice habit.
Practice 5 Similar Questions Free →All Compound Interest practice questions
More Class 8 Compound Interest practice
Ravi compares two banks for a deposit of Rs 10000 for 1 year at 10% per annum. Bank A…A sum of money invested at compound interest amounts to Rs 4840 in 2 years and Rs 5324…A man takes a loan of Rs 16000 at 15% per annum compounded annually. He repays Rs 6000…The simple interest on a sum for 2 years at 10% per annum is Rs 400. What would the…A bank pays 8% per annum compounded half-yearly. Suresh deposits Rs 5000. Find the…