+1 vote
in Mathematics by kratos

The simple interest obtained on an amount of Rs 45,000 at the end of 4 year is Rs 15,300. What would be the approximate compound interest obtained on the same amount at the same rate of interest in the same ** ?

(a) Rs 18,244

(b) Rs 18,244

(c) Rs 16,285

(d) Rs 18,566

(e) Rs 17,364

1 Answer

+1 vote
by kratos
 
Best answer

(e) Rate =15300 x 100 / 45000 x 4 = 8.5%

Compound interest

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