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Hint: First we recall the definition and formula of compound interest and then calculate the compound interest. The formula used to calculate the compound interest is Complete step by step answer: So, the correct answer is “Option C”. Note: Compound interest is interest on interest; it means compound interest is additional amount of interest to the principal sum. Before calculating compound interest students have to calculate the amount by using the formula and then subtract principal from amount. Students must read questions carefully about the compounding frequency i.e. interest compounded yearly, half-yearly, quarterly, monthly or weekly. The time period will be changed accordingly. Answer Verified
Hint: Complete step by step answer: Note: What is the amount for rupees 10000 by compound interest 8% for 2 years?Expert-Verified Answer
What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years, when compounded annually? The amount is ₹ 11664.
What is the compound interest of 10000 in 2 years?I. = Rs. (10824.32 − 10000) = Rs. 824.32.
What is the compound interest on 12000 rs at the rate of 10% for 2 years?Hence, the compound interest is Rs. 2,520.
What is the compound interest on Rs 10000 for 2 years at rate of interest 10% per annum?Compound Interest would be 12100rs.
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