Question
Download Solution PDFNaresh deposited a sum of Rs. 10,000 at 10% rate of interest per annum, compounded annually. The total amount received by Naresh after 2 years is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = Rs. 10,000
Rate (R) = 10% per annum
Time (t) = 2 years
Concept Used:
Amount =
Calculation:
⇒ Amount after 2 years = 10000 ×
= 10000 ×
= 110 × 110 = Rs. 12,100
Therefore, the total amount received by Naresh after 2 years is Rs. 12,100.
Hence, the correct answer is option 4).
Last updated on Jul 18, 2025
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