Question Details

Detailed explanation and options for the selected question.

Compound interest on a sum for 2 years at 10% per annum is Rs. 220. What is the sum?

A. Rs. 1047.62

B. Rs. 1050

C. Rs. 1100

D. Rs. 1000

Explanation:

Using compound interest: P*(1.1^2 – 1)=0.21P=220, so P ≈ Rs. 1047.62.