Question 70

The amount of Rs. 10,000 after 2 years, compounded annually with the rate of interest being 10% per annum during the first year and 12% per annum during the second year, would be (in rupees)

Solution

Principal amount = Rs. 10,000

Rate of interest = 10% for first year and 12% for second year

=> Amount after interest = $$10,000 \times \frac{110}{100} \times \frac{112}{100}$$

= $$110 \times 112=Rs.$$ $$12,320$$

=> Ans - (C)

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