Compound interest compounded annually on a given sum for n years
This type of question, asked 2 times: 8 Aug 2022 Tier II, 3 Mar 2023 Tier II. All 2 questions below, oldest first.
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Question 1
8 Aug 2022 Tier II
62Vipul and Manish invested the sum of ₹ 15000 and ₹ 20000 at the rate of 20 percent p.a and 30 percent p.a. respectively on compound interest (compounding annually). If time period is 3 years for both, then what will be the total compound interest earned by Vipul and Manish?Tap an option to check your answer.
Question 2
3 Mar 2023 Tier II
2What is the compound interest on a sum of ₹25,000 after three years at a rate of 12 per cent per annum interest compounded yearly?Tap an option to check your answer.