alleryStart learning →At 10% annually compounded, year 2 interest is ₹110. With no transactions, find the original principal.
A₹1,000
B₹1,210
C₹1,100
D₹900
Answer & Solution
Correct answer: A. ₹1,000
The start of year 2 balance is 110 ÷ 0.1 = ₹1,100; dividing by 1.1 gives the original ₹1,000.
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