MathematicsFractions, decimals, approximations and percentagesWAEC
Find the amount after 2 years when ₦10,000 is invested at 10% per annum compound interest.
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Answer: C. ₦12,100
A = 10,000 × 1.1² = 10,000 × 1.21 = ₦12,100. ₦12,000 is the simple-interest amount.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.