Question
Quantitative Aptitude Question on SI & CI
If a sum of Rs.40,000 is invested at compound interest for 2 years at the annual interest rate of 20%, then what is the interest earned?
A
Rs.15,200
B
Rs.17,600
C
Rs.16,400
D
Rs.18,800
Answer
Rs.17,600
Explanation
Solution
The correct answer is (B),Rs.17,600