Math, asked by sarithababu125, 10 days ago

20000 deposited compound interest at 20% for 5 years​

Answers

Answered by ashish012880
1

Step-by-step explanation:

Given,

principal (p) = 20,000

Interest rate (r)= 20%

Total Time (t) = 5 year

compounding time (n) = 1 year

Formula to find compound interest is

p(1 +  \frac{r}{n} )  ^{n{t} }

substituting the values,

20,000 (1+20/1) ¹ × ⁵

= 20,000 × (21)⁵

= 20,000× 40,84,101

= 81,68,20,20,000 Rs.

so in short he will become Ambani in next five years,

(Have a nice day)

Similar questions