Please enter the following details
Free Daily Targets & Mocks
Study Material & Formulas PDFs
1 on 1 Mentorship
Question 185
A certain sum will amount to 12,100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is
Solution
Let the sum = $$x$$
rate = 10% and time = 2 years
Amount after compound interest = $$x (1 + \frac{10}{100})^{2}$$ = 12100
=> $$\frac{121x}{100}$$ = 12100
=> $$x$$ = 10,000
Create a FREE account and get:
- Free SSC Study Material - 18000 Questions
- 230+ SSC previous papers with solutions PDF
- 100+ SSC Online Tests for Free
