A man deposited sh 50000 in a bank for 2 years. The bank paid compound interest at the rate of 10% per annum. How much...

A man deposited sh 50000 in a bank for 2 years. The bank paid compound interest at the rate of 10% per annum. How much money was in his account at the end of the two years?

A. sh. 10 500
B. sh. 55 500
C. sh. 60 000
D. sh. 60 500

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The correct answer is [D]

Principle = 50,000
Rate = 10% per annum
Time = 2 years

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Wilfykil answered the question on August 2, 2019 at 11:43

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