What will be the compound interest earned on an amount of Rs. 12000 at 10% p.a. in two years?
Answer & explanation
Correct answer: option 4
OR
Total rate of interest for 2 years = 10% + 10% + \(\frac{10\;×\;10}{100}\)% = 21%
C.I. for 2 years = 12000 × 21% = Rs.2520