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What is the compound interest on ₹10000 at 10% per annum for - Practice - ObjectiveMcq

HomePracticeMathArithmeticWhat is the compound interest on ₹1...

What is the compound interest on ₹10000 at 10% per annum for 2 years, compounded annually?

Correct Answer: B — ₹2100

A = P(1 + R/100)^T = 10000 × (1.1)² = 10000 × 1.21 = ₹12100. CI = 12100 – 10000 = ₹2100.

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