Question

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

• A. ₹ 2546
• B. ₹ 2466
• C. ₹ 2656
• D. ₹ 2646

Answer 1

The correct option is D

₹ 2646

$A=P\times {[1+\frac{R}{100}]}^n$

Principal(P) = ₹ 12600, Rate(R) = 10, Number of years(n) = 2

$\therefore A=₹12,600\times {[1+\frac{10}{100}]}^2$

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

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

$A=₹15246$

We know that, C.I. = A - P

C.I. = ₹ 15246 - ₹ 12600

C.I. = ₹ 2646