Mathematics
The amount, of ₹ 1,000 invested for 2 years at 5% per annum compounded annually is:
₹ 1,100
₹ 1,102.50
₹ 1,200
₹ 8,000
Related Questions
If the interest is compounded half-yearly, the time is:
halved
doubled
tripled
not changed
Statement 1: On a certain sum, at the same rate of interest and for the same time period, compound interest is always greater than the simple interest.
Statement 2: In compound interest, the principal remains constant for the whole time period, however the compound interest keeps increasing every year.
Which of the following options is correct?
Both the statements are true.
Both the statements are false.
Statement 1 is true, and statement 2 is false.
Statement 1 is false, and statement 2 is true.