1.

Person invests an amount of ` 10000 at the rate of 11 % per annum for two years. What approximate amount of compound interest will he obtain at the end of two years ?

Answer»

RS. 2331



The AMOUNT after two YEARS
 = 1000 X 111/100 x 111/100 = 12321
CI = 12321 - 10000 = 2321



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