Mathematics · Compound Interest
If the principal amount is ₹1,000, the interest rate is 5% per year compounded annually, and the time period is 2 years, what is the total amount after 2 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,102.5✓
- 2₹1,100.5
- 3₹1,000
- 4₹1,200
Correct answer
₹1,102.5
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