Question

If ₹ 13000 is invested at a compound interest of 10%, what amount you will receive after 2 years ?

• A. ₹15,630
• B. ₹ 16,730
• C. ₹17,730
• D. ₹15,730

Answer 1

The correct option is D ₹15,730

Given
P = ₹ 13000
T(n)= 2 years
r = 10%

$A=P(1+\frac{r}{100}{)}^n$

$=13,000(1+\frac{10}{100}{)}^2$

$=13,000(\frac{110}{100}{)}^2$

$=13,000\times \frac{110}{100}\times \frac{110}{100}$

= ₹ 15,730