alleryStart learning →₹1,000 earns 10% then 20% in successive years, compounded yearly. No transactions. Final amount?
A₹1,320
B₹1,200
C₹1,300
D₹1,440
Answer & Solution
Correct answer: A. ₹1,320
The successive balances are 1000 × 1.1 = ₹1,100 and 1100 × 1.2 = ₹1,320.
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