Question
An amount of Rs 6000 lent at 5% per annum compounded interest for 2 years will become = ?
Answer: Option D
$$\eqalign{
& {\text{Amount = 6000}}{\left( {1 + \frac{5}{{100}}} \right)^2} \cr
& \Rightarrow {\text{Amount = 6000}} \times \frac{{21}}{{20}} \times \frac{{21}}{{20}} \cr
& \Rightarrow {\text{Amount = Rs. 6615}} \cr} $$
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$$\eqalign{
& {\text{Amount = 6000}}{\left( {1 + \frac{5}{{100}}} \right)^2} \cr
& \Rightarrow {\text{Amount = 6000}} \times \frac{{21}}{{20}} \times \frac{{21}}{{20}} \cr
& \Rightarrow {\text{Amount = Rs. 6615}} \cr} $$
Was this answer helpful ?
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