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    Question

    A sum of ₹10,000 is invested at a compound interest

    rate of 10% per annum. What will be the amount after 2 years if the interest is compounded annually?
    A ₹11,000 Correct Answer Incorrect Answer
    B ₹12,000 Correct Answer Incorrect Answer
    C ₹12,100 Correct Answer Incorrect Answer
    D ₹12,210 Correct Answer Incorrect Answer

    Solution

    Amount = 10,000 × (1 + 10/100)^2  = 10,000 × 1.1 × 1.1  = ₹12,100.  Correct option: c

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