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Mr. Karim deposited Tk 800 in a Bank at 15% annual compound interest rate. At the end of the second year, the total amount including the interest will be :

Mr. Karim deposited Tk 800 in a Bank at 15% annual compound interest rate. At the end of the second year, the total amount including the interest will be : Correct Answer 1058

    C   = P(1+r)2                  = 800(1+15100)2                    = 800(1+320)2            = 800(2320)2            = 800×23×2320×20             = 1058 (Ans.)

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