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What will be the compound interest accru...

What will be the compound interest accrued on a sum of ₹3500/- at rate of 8 p.c.pa in 2 years ?

A

₹588.4

B

₹582.4

C

₹552.4

D

None of these

Text Solution

Verified by Experts

Required Compound Interest
` = 35000 xx [ ( 1 =8/100)^(2) -1]`
` = ₹ 35000 xx [ ( 108 xx 108 - 10000)/10000]`
` = ₹ ( 35000 xx 1664)/ 10000 = ₹ 5824`
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