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The compound interest on a sum of Rs 5 500 at...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
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The compound interest on a sum of Rs. 5,500 at 15% p.a. for 2 years, when the interest is compounded 8 monthly is:

Answer & Solution
Correct Answer: Option C
12 months ⟶ 15%
8 months ⟶ 10%
Compound Interest mcq question image
1000 units ⟶ 5500
1 unit ⟶ 5.5
331 units ⟶ 331 × 5.5 = Rs. 1820.50
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