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How much will be the compound interest t...

How much will be the compound interest to be paid on a principal amount of ₹ 53,000 after 2 years at the rate of 4 p.c.p.a.?

A

₹4324.8

B

₹4432.8

C

₹4342.8

D

₹4234.8

Text Solution

Verified by Experts

The correct Answer is:
A
`CI = P [(1+R/100)^T-1]`
.`=53000[(1+4/100)]^2-1]`
`=53000[(26/25)^2-1]`
`53000xx[676/625-1]`
.`=(53000xx51)/625 = ₹4324.8`
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