alleryCompound interest on Rs 5000 at 10% per annum for 2 years (compounded annually) is
ARs 1000
BRs 1050
CRs 1100
DRs 1155
Answer & Solution
Correct answer: B. Rs 1050
Amount = 5000 x (1.10)^2 = 5000 x 1.21 = 6050. CI = 6050 - 5000 = 1050. Note: SI for the same would be 1000
the Rs 50 difference is the compounding gain.
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