Q. What is the compound interest on ₹5000 at 10% per annum for 2 years (compounded annually)?
✅ Correct Answer: (B)
₹1050
Explanation: A = P(1 + r/100)^2 = 5000(1.10)^2 = 6050; CI = 6050 − 5000 = 1050.
Explanation by: Mr. Dubey
A = P(1 + r/100)^2 = 5000(1.10)^2 = 6050; CI = 6050 − 5000 = 1050.