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A principal of ₹ 10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to :
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- ₹ 12,000
- ₹ 12,320
- ₹ 12,500
- ₹ 11,320
Correct Option: B
Given that , Principal ( P ) = ₹ 10,000, Time = 2 years , r1 = 10% , r2 = 12%
Using the given formula,
A = P | 1 + | . | 1 + | ||||||
100 | 100 |
A = 10000 | 1 + | . | 1 + | ||||||
100 | 100 |
A = 10000 | 1 + | . | 1 + | ||||||
10 | 25 |
⇒ A = 10000 × | × | = ₹ 12320 | ||
10 | 25 |