Register Now

Login

Lost Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

A certain sum will amount to Rs 12100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is = ?

a) Rs. 12000
b) Rs. 6000
c) Rs. 8000
d) Rs. 10000

Answer: d
Explanation: Amount = 12,100; r = 10%, t = 2 yrs
$$\eqalign{ & {\text{Amount}} = P{\left[ {1 + \frac{r}{{100}}} \right]^t} \cr & 12100 = P{\left[ {1 + \frac{{10}}{{100}}} \right]^2} \cr & 12100 = P{\left[ {\frac{{11}}{{10}}} \right]^2} \cr & 12100 = P \times \frac{{11}}{{10}} \times \frac{{11}}{{10}} \cr & P = \frac{{12100 \times 10 \times 10}}{{11 \times 11}} \cr & P = 10000 \cr} $$

Join The Discussion