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The amount on a sum of ₹5,200 at 10% per annum compound interest, compounded annually, in 2 years will be:
Question

The amount on a sum of ₹5,200 at 10% per annum compound interest, compounded annually, in 2 years will be:

A.

₹5,991

B.

₹5,569

C.

₹6,292

D.

₹5,552

Correct option is C

Given:
Principal (P) = ₹5,200
Rate of interest (R) = 10\%
Time (T) = 2 years
Formula Used:
Amount (A) = P×(1+R100)T P × (1 + \frac{R}{100})^T​​
Solution:
A = 5200×(1+10100)25200 × (1 + \frac{10}{100})^2​​

A = 5200×(1+110)25200 × (1 + \frac{1}{10})^2​​

A = 5200×(1110)25200 × (\frac{11}{10})^2​​

A = 5200×1211005200 × \frac{121}{100}​​

A = 52 × 121

A = 6292
Final Answer
So the correct answer is (c)

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