A) 3145
B) 2646
C) 3565
D) 2345
View Answer
B) 2646
Explanation :
Principal (P) = Rs. 12,600
Rate (R) = 10
Number of years (n) = 2
A = P[1 +(R/100)]n
= 12600[1 + (10/100)]2
= 12600[1 + (1/10)]2
= 12600 [(10 + 1)/10]2
= 12600 × (11/10) × (11/10)
= 126 × 121 = 15246
Total amount, A = Rs. 15,246
Compound interest (CI) = A – P
= Rs. 15,246 – Rs. 12,600 = Rs. 2646
Competititve Exams Materials
(Q) Find the compound interest on Rs. 12,600 for 2 years at 10% per annum compounded annually ?
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