Question

170/113/28 (1)
42. The compound interest on Rs. 24,000 compounded annually for 2 years at the
rate of 10% per annum is
(1) Rs. 5,000
(2) Rs. 5,020
(3) Rs. 5,040
(4) Rs. 5,060​
.​

Answer 1

Answer:

(3) Rs 5040

Explanation:

using formula

P(1+r/100)^t

24000(1+10/100)^2

24000*121/100

= 29040

so interest would be 29040-24000=Rs 5040