Solved UPSC CDS/OTA Question
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Q · Compound InterestEasy · 45s
Find the amount of $2000 at 6% p.a. compound interest for 2 years (annual).
TopicCompound Interest
Question Typemultiple choice
DifficultyEasy
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained - no skipped algebra.
A = 2000×(1.06)^2 = $2247.20; CI = $247.20.
Final Answer: Option A - $2247.20