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Question

Find the amount on ₹ 30,000 in 2 years , when the rates of interest for two successive years are 10 % and 12 % successively


A

₹ 35,960

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B

₹ 30,960

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C

₹ 36,690

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D

₹ 36,960

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Solution

The correct option is D

₹ 36,960


P = ₹ 30,000 T = 2 years , R1 = 10 % and R2 = 12 %

A = P(1+R1100)(1+R2100)

= 30000(1+10100)(1+12100)

= 30000(110100)(112100)

= ₹ 36,960


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