A sum of Rs. 1000 is invested at 10% per annum compound interest for 2 years. What is the total amount?
A1100
B1200
C1210
D1300
Explanation
Amount = P(1+r/100)^n = 1000(1+0.1)^2 = 1000(1.21) = 1210.
Exam Relevance
- Topic: Interest
- Subtopic: Compound Interest
No Comments