Mathematics · Compound Interest
Rodney invested ₹58,000 in a bank. In two years, how much compound interest (in ₹) will he receive considering annual compounding, if the rate of interest was 7% per annum in the first year and 3% per annum more than that of the first year in the second year?
- 110,066
- 210,266✓
- 310,516
- 49,916
Correct answer
10,266
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