Find the compound interest on Rs. 12,000 for 2 years at 5% per annum compounded annually.

Topic: Interest
Subtopic: Compound Interest

ARs. 1,200

BRs. 1,230

CRs. 1,250

DRs. 1,300

Explanation

Amount = 12000 * (1 + 5/100)^2 = 12000 * (1.05)^2 = 12000 * 1.1025 = Rs. 13,230. CI = 13230 – 12000 = Rs. 1,230.

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