Question

Find the amount on ₹12600 for 2 years at $10\%$ per annum compounded annually.

• A. 15246
• B. 12456
• C. 15542
• D. 12600

Answer 1

The correct option is A 15246

Given: Principal(P) = Rs 12600,
Rate(R) = 10,
Number of years(n) = 2

For interest compounded anually amount, $A=P\times {[1+\frac{R}{100}]}^n$

$\therefore A=₹12600\times {[1+\frac{10}{100}]}^2$

$A=₹12600\times {\left[\frac{11}{10}\right]}^2$

$A=₹12600\times \frac{11}{10}\times \frac{11}{10}$

$A=₹15246$