The simple interest on a sum for 2 years at 10% per annum is Rs 400. What would the compound interest be on the same sum, at the same rate and time, compounded annually?
Class 8Compound InterestComparing Quantities
ARs 420
BRs 400
CRs 440
DRs 410
Step-by-Step Solution
SI = 100P×10×2=400 gives P=2000. CI = 2000(1.1)2−2000=2420−2000= Rs 420.
Answer: A) Rs 420
Master this chapter in 30 minutes a day.
Don't just memorise the answer — build a daily practice habit.