A man deposits Rs. 1000 in a bank at a rate of 10% per annum compound interest. Find the amount after 2 years.
Correct: B
The amount after 2 years is given by the formula A = P(1 + R/100)^T, where A is the amount, P is the principal amount, R is the rate of interest, and T is the time in years. Substituting the given values, we get A = 1000(1 + 10/100)^2 = 1000 * (1.1)^2 = 1000 * 1.21 = 1210.