1. Calculate the compound interest on 50000 for 2years at
4% per annum
PLS TELL
Answers
Answer:
50,000 at 4% per annum for two years compounded annually is: 1) 4000. 2) 4080.
Step-by-step explanation:
We are given that the amount is RS.50,000 on which interest will be paid.
The amount 50,000 is our principal amount p
Now,we are also given that the rate of interest is 4% which is denoted by r.
Time period (T) for which compound interest should be calculated is given as 2 years
A=P (1+r/100)t where A is the total
amount P is the principal amount,r is the rate of interest and T is the time period
on substituting the value We get
A= 50,000(1+4/100)2
A=50,000(104/100)2
A=50,000(104/100)(104/100)
A=5(104)104)
Therefore, on solving We get
A= 54,080
C.I = A-P where C.I stand for compound interest
C.I = 54,080-50,000
C.I=4,080
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