Question

2. Calculate the amount and compound interest on (a) 6,400 for 3 years at 4-% per annum compounded annually. 2​

Answer 1

Step-by-step explanation:

⇒ P=Rs.6400,n=2years,R=

2

15

%

⇒ A=P(1+

100

R

)

n

⇒ A=6400(1+

2×100

15

)

2

⇒ A=6400×

200

215

×

200

215

⇒ A=Rs.7,396

⇒ Compoundinterest=A−P

⇒ CompoundInterest=Rs.7,396−Rs.6,400=Rs.996