What is the compound interest (in ₹) on ₹10000 at per annum for 2 years, compounded annually?
Answer and explanation
Correct answer: B. 4400
- Step 1: Identify principal , rate , and term .
- Step 2: Calculate the accumulated maturity amount: .
- Step 3: Deduct the principal to find compound interest: .
Answer
4400.
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