The compound interest on a certain sum of money at 21% p.a. for 2 years is ₹11,138.40 (interest compounded yearly). The total amount received (in ₹) after 2 years is:

35,138.40

Rate = 12%

Effective rate of 2 years = 21 + 21 + \(\frac{21×21 }{100}\)

= 42 + 4.41

= 46.41%

ATQ,

46.41% = 11138.40

1% = \(\frac{11138.40 }{46.41}\) = 240

100% = 100 × 240 = 24000

We know ,

Amount = Principal + Interest

= 24000 + 11138.40

= 35138.40