please explain it very very very nicely I don't understand who had giv

1.	please explain it very very very nicely I don't understand who had given this answer please Shankar take a loan of 10000 at compound interest rate of 10% per annum find the sum of money required to clean the Dept at the end of 2 years please help me I don't understand who have given this answer
Answer» ong>Answer: 1. COMPOUND interest after ONE year = 10000 * 10/100 = 1000 2. Compound interest for 2 years = 11000 * 10/100 = 1100 3. Sum of MONEY REQUIRED to clean the debt = 11000 + 1100 = 12100 rs

please explain it very very very nicely I don't understand who had given this answer please Shankar take a loan of 10000 at compound interest rate of 10% per annum find the sum of money required to clean the Dept at the end of 2 years please help me I don't understand who have given this answer

Answer»

ong>Answer:

1. COMPOUND interest after ONE year

= 10000 * 10/100

= 1000

2. Compound interest for 2 years

= 11000 * 10/100

= 1100

3. Sum of MONEY REQUIRED to clean the debt = 11000 + 1100

= 12100 rs