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Find the compound interest on Rs 10,000 at 10% per annum compounded annually for 2 years.
ARs 2,200
BRs 1,950
CRs 2,000
DRs 2,100
Answer & Solution
Correct answer: D. Rs 2,100
Amount = 10,000 × (1.10)^2 = 10,000 × 1.21 = 12,100. CI = 12,100 − 10,000 = 2,100. (SI for the same would be 2,000; the Rs 100 difference is the compounding gain.)
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