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      Question

      A sum of Rs. 100 is invested at 10% per annum compound

      interest (compounded annually) for two years. How much interest will be received after two years?
      A 20 Correct Answer Incorrect Answer
      B 42 Correct Answer Incorrect Answer
      C 24 Correct Answer Incorrect Answer
      D 21 Correct Answer Incorrect Answer

      Solution

      given -P=100, r= 10%, t =2year Then the use of- A= P[1+r/100] ͭ A=100[1+10/100] ² =100[11/10] ² =100×121/100 A= 121 so now compound interest = A-P =121-100 CI=21 Rs

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