Question

Malik deposited Rs 10000 in a bank at a certain rate which is compounded annually. At the end of two years, the sum amounted to Rs 12100.

If the interest had been compounded quarterly, then what would have been the amount on the same sum at the end of six months?

• A. Rs 10220.00
• B. Rs 10342.75
• C. Rs 10506.25
• D. Rs 10680.00

Answer 1

The correct option is C

Rs 10506.25