Find the compound interest on Rs. 10,000 for 2 years, compounded annually at 10% per annum.
2000
3330
2100
2200
A
2000
B
2100
C
2200
D
3330
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Solution
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We have P= Rs. 10,000,T=2 years and R=10%.
⇒A=P×(1+R100)T
⇒A=10000×(1+10100)2
⇒A=10000×(1110)2
⇒A= Rs. 12100
Thus C.I.=A−P= Rs. 12100− Rs. 1000= Rs. 2100
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