Mathematics · Compound Interest
Baban invested ₹55,000 in a bank. In two years, how much compound interest (in ₹) will he get, considering annual compounding, if the first year's rate of interest was 10% per annum and the second year's rate was 2% per annum more than the first year?
- 112,760✓
- 212,410
- 312,560
- 413,010
Correct answer
12,760
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