Simple & Compound Interest · Question 3 · Easy
What is the compound interest on ₹10,000 at 10% per annum for 2 years, compounded annually?
- ₹2,100
- ₹2,000
- ₹2,200
- ₹2,010
Answer and explanation
Answer: A. ₹2,100
Explanation: Amount = 10,000 × 1.1 × 1.1 = ₹12,100. CI = 12,100 − 10,000 = ₹2,100.
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