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    Question

    Amit deposited Rs. 15,000 into an investment with a 12%

    annual compound interest rate for a duration of two years. Calculate the total interest earned by Amit.
    A Rs.3,000 Correct Answer Incorrect Answer
    B Rs.3,810 Correct Answer Incorrect Answer
    C Rs.3,800 Correct Answer Incorrect Answer
    D Rs.3,816 Correct Answer Incorrect Answer

    Solution

    ATQ, Interest earned by Amit = 15000 × {(1 + 0.12)2 – 1} = 15000 × 0.2544 = Rs. 3,816

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