Answer:
Option c. Rs. 12,484
Step-by-step explanation:
we know that
The compound interest formula is equal to
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
[tex]t=2\ years\\ A=Rs15,660\\ r=0.12\\n=1[/tex]
substitute in the formula above and solve for P
[tex]15,660=P(1+\frac{0.12}{1})^{1*2}[/tex]
[tex]15,660=P(1.12)^{2}[/tex]
[tex]P=15,660/(1.12)^{2}[/tex]
[tex]P=Rs12,484[/tex]
