Question

If a sum of ₹ 16000 is invested at a compound rate of 10 p.c.p.a for two years, find the amount received.

• A. Rs 19,360
• B. Rs 19,400
• C. Rs 19,380
• D. Rs 19,450

Answer 1

The correct option is A Rs 19,360

P= ₹ 16000

R= 10 p.c.p.a

A = Amount received after two years

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

$=16,000(1+\frac{10}{100}{)}^2$

$=16,000(\frac{110}{100}{)}^2$

$=16,000\times \frac{110}{100}\times \frac{110}{100}$

= ₹ 19,360