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The compound interest on Rs. 2800 for 1 1/ 2 years at 10% per annum is?

Rs. 441.35
Rs. 436.75
Rs. 434
Rs. 420

Correct Answer: Rs. 434

Explanation:

∵ Final Amount = Rs.[2800 x (1 + 10/100) x (1 +5/100)]
= Rs. [ 2800 x 11/10 x 21/20 ]
= Rs. 3234
∴ Required C.I. = Rs.(3234 - 2800) = Rs .434

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