What would be the compound interest accrued on an amount of ₹ 16500 @ 14% per annum at the end of 2 years?

A ₹ 4120.50

B ₹ 4943.40

C ₹ 5200.54

D ₹ 6928.11

Answer & Explanation
Option: [B]

P = ₹ 16500

R% = 14% per annum

n = 3years

A = p(1+R/100)ⁿ

A = 16500(1+14/100)²

A = ₹ (16500 x 114/100 x 114/100)

A = ₹ 21443.4

CI = ₹ (A - P)

CI = ₹ (21443.40-16500.00)

CI = ₹ 4943.40

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