Question
Find the total amount received on investing Rs. 12,000
for 2 years at compound interest of 10% p.a., compounded annually.Solution
ATQ, Total amount received = 12000 × {1 + (10/100)}² = 12000 × (110/100)² = 12000 × 1.1² = 12000 × 1.21 = Rs. 14,520
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