A man invested an amount of $R s .10000$ for $2$ years at compound interest of $6 %$ per annum .How much amount will he get after the expiry of the fixed deposit?

11, 200

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10, 600

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12, 000

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11, 236

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Solution

The correct option is D $11, 236$
Given :
$P = 10000, D u r a t i o n = 2 y e a r s, C o m p o u n d I n t e r e s t = 6 %$

We know that,
AMOUNT $= P {(1 + \frac{r}{100})}^{n}$
$= 10000 {(1 + \frac{6}{100})}^{2}$

$= 10000 (1 + \frac{36}{10000} + \frac{12}{100})$

$= 10000 (1 + \frac{36 + 1200}{10000})$

$= 10000 (\frac{10000 + 1236}{10000})$

AMOUNT $= R s . 11236$

Amount received after expiry of fixed deposit is Rs $11236$

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A man invested an amount of Rs.10000 for 2years at compound interest of 6% per annum .How much amount will he get after the expiry of the fixed deposit?

The correct option is D 11,236Given :P=10000 ,Duration=2years ,Compound Interest=6%We know that,AMOUNT =P(1+r100)n =10000(1+6100)2 =10000(1+3610000+12100) =10000(1+36+120010000) =10000(10000+123610000) AMOUNT =Rs. 11236Amount received after expiry of fixed deposit is Rs 11236

A man invested an amount of $R s .10000$ for $2$ years at compound interest of $6 %$ per annum .How much amount will he get after the expiry of the fixed deposit?