What will be the compound interest on a sum of Rs4 50 000 at the rate of 10 per annum in 2 years if ...........

Quantitative Aptitude (MTS) Compound Interest

What will be the compound interest on a sum of Rs4,50,000 at the rate of 10% per annum in 2 years, if interest is compounded

annually?

This questions was previously asked in

SSC MTS 14th July 2022 Shift-2

Rs50,500

Rs94,500

Rs54,450

Rs85,450

- To find the compound interest, use the formula:

Compound Interest = Principal × (1 + Rate/100)^Time - Principal

- Principal (P) = Rs4,50,000

- Rate (R) = 10% per annum

- Time (T) = 2 years

- Calculation:

- Amount after 2 years = Rs4,50,000 × (1 + 10/100)^2

- = Rs4,50,000 × (1.10)^2

- = Rs4,50,000 × 1.21

- = Rs5,44,500

- Compound Interest = Amount - Principal

- = Rs5,44,500 - Rs4,50,000

- = Rs94,500

- Option 2 is the correct answer: Rs94,500

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