A certain sum will amount to ₹ 12,100 in 2 years at 10 % per annum of compound interest, interest

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6.Interest

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A certain sum will amount to ₹ $12,100$ in $2$ years at $10 \%$ per annum of compound interest, interest being compounded annually. The sum is (In ₹)

A

$12000$

B

$6000$

C

$8000$

D

$10000$

Solution

(d) $P+(10 \% P) 2+10 \%(10 \% P)=12100$

$P+.2 P+.01 P=12100$

$1.21 P=12100$

$P=\frac{12100}{1.21}$

$P=₹ 10000$

Standard 13

Quantitative Aptitude

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