Question

Calculate the amount after five years on $Rs.10,000$ invested for $5$ years at $10\%$ per annum.

• A. $16105.1$
• B. $15000$
• C. $16288.95$
• D. None of these

Answer 1

The correct option is A $16105.1$

Given P = Rs.$10000$, r $=10$%, n $=1$ and nt $=5$ years
Formula for Amount with compound interest = $P{(1+\frac{r}{100})}^{nt}$
A $=10000{(1+\frac{10}{100})}^5$
$=10000{\left(1.1\right)}^5$
$=10000\left(1.61051\right)$
A $=16105.1$
Ans Amount after $5$ years = Rs. $16105.1$