Literal question
A math problem and the student's incorrect answer are printed below. Circle the correct explanation for why the student's answer is wrong.
Otieno borrowed 100 000 shillings from a bank that charged compound interest at the rate of 30% p.a. How much should he pay back to the bank at the end of two years?
ANSWER: 60000
Why is this not correct? Circle your answer
a) The student calculated the annual interest rate instead of the compound interest rate.
b) The student failed to include the principal.
c) The student calculated the annual interest rate instead of the compound interest rate and failed to include the principal.