Question
A clerk deposits Rs. 10,000 in a scheme that pays $12\%$ compound interest per annum. How much interest will she earn in 2 years?
Option 3 : Rs. 2,544
Detailed Solution
सही उत्तर Rs. 2,544 है।
Amount = 10,000 x (1.12) squared = 10,000 x 1.2544 = Rs. 12,544. Interest earned = 12,544 - 10,000 = Rs. 2,544.
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prepsnap.in • Domain-SpecificQuestion:
A clerk deposits Rs. 10,000 in a scheme that pays $12\%$ compound interest per annum. How much interest will she earn in 2 years?
Correct Answer: Rs. 2,544
Amount = 10,000 x (1.12) squared = 10,000 x 1.2544 = Rs. 12,544. Interest earned = 12,544 - 10,000 = Rs. 2,544.