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Question

The amount of Rs.10,000 after 2 years, compounded annually with the rate of interest being 10% per annum during the first year and 12% per annum during the second year, would be
  1. Rs.11,320
  2. Rs.12,000
  3. Rs.12,320
  4. Rs.12,500

A
Rs.12,320
B
Rs.12,000
C
Rs.12,500
D
Rs.11,320
Solution
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