please explain it very very very nicely I don't understand who had given this answer please Shankar take a loan of 10000 at compound interest rate of 10% per annum find the sum of money required to clean the Dept at the end of 2 years please help me I don't understand who have given this answer
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Answer:
1. Compound interest after one year
= 10000 * 10/100
= 1000
2. Compound interest for 2 years
= 11000 * 10/100
= 1100
3. Sum of money required to clean the debt = 11000 + 1100
= 12100 rs
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