A sum of Rs. 91,00 is borrowed at 20% per annum compounded annually...

A sum of Rs. 91,00 is borrowed at 20% per annum compounded annually. If the amount is to be paid in two years, the amount will be.. (a) Rs. 131,040 (b) Rs. 132,800 (c) Rs. 132,500 (d) Rs. 142,300

Your Answer

Hello Dear,
Amount = Principal (1+rate/100)time
Amount = 91000 * 120 / 100 * 120 / 100
Amount = 910 * 12 * 12
Amount = 910 * 144
Amount = 131040
Correct answer is a Rs.131,040
 

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