Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years. (Round off your answer to nearest integer)
A. Rs.4273
B. Rs.4613
C. Rs.4064
D. Rs.4266
E. None of these
Explanation:
CI = 14800{ [ 1 + 13.5/100]2 – 1 }
= 14800 { [1 + 27/200]2 – 1
= 14800 { 2 + 27/200}{27/200}
= (74)[2 + 27/200](27) =
1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266