What would be the compound interest accrued on an amount of Rs. 9,000 at the rate of 11 p.c.p.a. in two years ?
$$C.I. = P [(1 + \frac{R}{100})^T - 1]$$
= $$9000 [(1 + \frac{11}{100})^2 - 1]$$
= $$9000 [(1.11)^2 - 1]$$
= $$9000 \times (1.2321 - 1)$$
= $$9000 \times 0.2321$$ = Rs. $$2,088.90$$
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