# Aptitude | Compound Interest | Question 1

An amount of Rs.9000 is invested for 2 years at interest rate of 15% per annual and compunded annually. At the end of 2nd year how much amount will be obtained as interest?

**(A)** Rs. 2902.50

**(B)** Rs. 2900.50

**(C)** Rs. 2899.50

**(D)** Rs. 2899

**Answer:** **(A)** **Explanation:** Amount = P[1+ (R/100)]^{n}

where P = principal, R = rate of interest and n = time(years)

Amount= Rs.9000 x [1 + (15/100)]^{n} = 9000 x (23/20)^{n} = 23805/2 = Rs.11902.5

The amount obtained by the way of interest in compound interest = Amount – principal = Rs.(11902.5 – 9000) = Rs.2902.50

Quiz of this Question

Please comment below if you find anything wrong in the above post

## Recommended Posts:

- Aptitude | Compound Interest | Question 4
- Aptitude | Compound Interest | Question 7
- Aptitude | Compound Interest | Question 8
- Aptitude | Compound Interest | Question 12
- Aptitude | Compound Interest | Question 3
- Aptitude | Compound Interest | Question 5
- Aptitude | Compound Interest | Question 6
- Aptitude | Compound Interest | Question 11
- Aptitude | Compound Interest | Question 2
- Aptitude | Compound Interest | Question 9
- Aptitude | Compound Interest | Question 10
- QA - Placement Quizzes | Compound Interest | Question 14
- QA - Placement Quizzes | Compound Interest | Question 15
- QA - Placement Quizzes | Compound Interest | Question 13
- Program to find the rate percentage from compound interest of consecutive years
- Aptitude | Arithmetic Aptitude 6 | Question 5
- Aptitude | Arithmetic Aptitude 6 | Question 6
- Aptitude | Arithmetic Aptitude 5 | Question 3
- Aptitude | Arithmetic Aptitude 5 | Question 2
- Aptitude | Arithmetic Aptitude 5 | Question 1