Banking Exams Quant — Question 697
Question
A bank offers 12% compound interest per annum. What will ₹10000 become in 2 years?
- ₹11200
- ₹11440
- ₹12544
- ₹12800
Correct answer
C — ₹12544
Explanation (English)
Amount = P(1+R/100)^T = 10000(1.12)² = 12544
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