What would be the compound interest on an amount of Rs.5500 at the rate of 5 p.c. per annum after 2 years?
Choose one:
A) 610.25 B) 573.85 C) 563.75 D) 420.5 E) 550
563.75I=P[(1+(R/100))^T-1]   =5500*[(1+(5/100))^2-1]   =5500*[(1.05)^2-1]   =5500*0.1025   =Rs.563.75   Option 563.75
<result>C</result>
What would be the compound interest on an amount of Rs.5500 at the rate of 5 p.c. per annum after 2 years?