Question

A bank lent 12,025 to Rakesh at the compound interest rate of 4% p.a. for 2 years. How
much did Rakesh repay as the interest?​

Answer 1

Hey Dear,

◆ Answer -

Compound interest = 981 Rs

◆ Explanation -

# Given -

P = 12025 Rs

r = 4 % p.a. = 4/100 p.a.

t = 2 years

# Solution -

Compound interest is calculated by -

CI = P(1+r)^t - P

Substitute values,

CI = 12025 (1 + 4/100)^2 - 12025

CI = 12025 (1.04)^2 - 12025

CI = 13006 - 12025

CI = 981 Rs

Therefore, Rakesh have to pay interest of 981 Rs.

Hope this helps you...

Answer 2

Step-by-step explanation:

here is the answer = he have to pay ₹ 981.24