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Compound interest on ₹1000 at 10% per annum for 2 years is:
A₹200
B₹220
C₹210
D₹240
Answer & Solution
Correct answer: C. ₹210
1. Amount = 1000 × (1.1)^2 = 1000 × 1.21 = 1210.
2. CI = 1210 - 1000 = 210.
3. Hence ₹210.
_Source: UGC NET Paper 1 Study Book (ugc-net.com class notes) — Compound Interest_