Multiple choice

A man invested an amount of $Rs.10000$ for $2$years at compound interest of $6\% $ per annum .How much amount will he get after the expiry of the fixed deposit?

  1. $11,200$
  2. $10,600$
  3. $12,000$
  4. $11,236$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The amount after compound interest is calculated as P * (1 + r/100)^n. Here, 10000 * (1 + 6/100)^2 = 10000 * (1.06)^2 = 10000 * 1.1236 = 11236.

AI explanation

Using the compound interest formula, the maturity amount is calculated as P * (1 + r/100)^n. Substituting the given values, we get 10000 * (1 + 6/100)^2, which simplifies to 10000 * 1.1236. The final amount received after the fixed deposit is Rs. 11236.

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