Question

2. Find CI on Rs 20,000 for 5years at 5% annum compunded.​

Answer 1

Answer:

Given : P-20000Rs , n-5, r-5%

          Compounded amount = P(1+r/100)^n

                                                = 20000(1+5/100)^5

                                                = 20000*1.27

                                                = 25525.6 Rs

              Compound Interest CI = 25525.6-20000 = 5525.6 Rs