How much amount will be received on a principal of Rs10 000 at the rate of 12 per annum compounded a...........

Quantitative Aptitude (MTS) Compound Interest

How much amount will be received on a principal of Rs10,000 at the rate of 12% per annum, compounded annually for 2 years?

This questions was previously asked in

SSC MTS 6th July 2022 Shift-3

Rs13,446

Rs13,526

Rs12,544

Rs11,526

To find the amount received after 2 years with compound interest, we use the compound interest formula:

- Formula: A = P(1 + r/n)^(nt)

- Given:

- Principal (P) = Rs 10,000

- Rate (r) = 12% = 0.12

- Time (t) = 2 years

- Number of times interest applied per year (n) = 1

- Calculation:

A = 10,000 * (1 + 0.12)^2

A = 10,000 * (1.12)^2

A = 10,000 * 1.2544

A = Rs 12,544

- Options:

- Option 1: Rs 13,446

- Option 2: Rs 13,526

- Option 3: Rs 12,544

- Option 4: Rs 11,526

The correct amount received after 2 years is Rs 12,544.

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