Calculate the amount on ₹ 15,000 in 2 years at 12 % compounded annually.

₹ 18,816

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₹ 16,816

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₹ 18,916

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₹ 16,916

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Solution

The correct option is A ₹ 18,816
Given:
n= 2 years ; P = ₹ 15,000; R = 12%

We know that, A = $P {[1 + \frac{R}{100}]}^{n}$

A = $15000 {[1 + \frac{12}{100}]}^{2}$

A = $15000 {[\frac{112}{100}]}^{2}$

A = $15000 [\frac{112}{100}] [\frac{112}{100}]$

A= $15 [\frac{112}{1}] [\frac{112}{10}]$

A = ₹ 18,816

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Calculate the amount on ₹ 15,000 in 2 years at 12 % compounded annually.

The correct option is A ₹ 18,816Given: n= 2 years ; P = ₹ 15,000; R = 12% We know that, A = P[1+R100]n A = 15000[1+12100]2 A = 15000[112100]2 A = 15000[112100][112100] A= 15[1121][11210] A = ₹ 18,816