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SSC Audit Tax Finance P-II QUESTION #6196
Question 1
Calculate the Future Value ($FV$) of $\$2,000$ invested for $2$ years at $10\%$ compound interest.
  • $2,200
  • $2,400
  • $2,420✔️
  • $2,662
Correct Answer Explanation
$FV = 2000(1.10)^2 = 2000 \times 1.21 = 2420$ [cite: 50, 51].