Asked in PPSC, FPSC and other one-paper exams (compiled from unofficial resources).
Financial MathematicsSimple and Compound Interest
What will be the compound interest on a sum of Rs. $1875$ after $2$ years if the rate of interest for the first year is $4\%$ and that for the second year is $8\%$?
- A.Rs. $231$Correct answer
- B.Rs. $240$
- C.Rs. $225$
- D.Rs. $236$
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Practice these MCQs in the appQuick fact: The compound interest on Rs. $1875$ at $4\%$ for the first year and $8\%$ for the second year is Rs. $231$.