Find the compound interest on Rs. 2680 at 8% per annum for 2 years ?

Rs. 664.21
Rs. 548.68
Rs. 445.95
Rs. 692.57

Correct Answer: Rs. 445.95

Explanation:

We know Compound Interest = C.I. = P1+r100t - 1

Here P = 2680, r = 8 and t = 2

C.I. = 26801 + 81002-1= 268027252-12= 26802725+12725-1= 2680 5225×225

= (2680 x 52 x 2)/625

= 445.95

Compound Interest = Rs. 445.95

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