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    Question

    Find the compound amount and compound interest on Rs

    10,000 at 10% per annum for 2 years, compounded annually.
    A Amount = Rs 10,100; CI = Rs 5,100 Correct Answer Incorrect Answer
    B Amount = Rs 12,100; CI = Rs 2,100 Correct Answer Incorrect Answer
    C Amount = Rs 10,100; CI = Rs 3,100 Correct Answer Incorrect Answer
    D Amount = Rs 09,100; CI = Rs 2,170 Correct Answer Incorrect Answer

    Solution

    Amount A = P(1 + R/100)² = 10,000 × (1 + 10/100)² = 10,000 × (11/10)² = 10,000 × 121/100 = 10,000 × 121 ÷ 100 = 12,100 Compound Interest (CI) = A − P = 12,100 − 10,000 = 2,100 Answer: Amount = Rs 12,100; CI = Rs 2,100.

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