Question

A boy invested rs 100000 at 13%per annum. Find the amount standing to his credit at the end of second year?

Answer 1

$Here,\\Principal = Rs.\:100000\\Rate=\:13\%\\Time=\:2\:years\\\\\\\\Therefore,\\\:\:\:Amount\:=\:P[1+(\frac{R}{100})^t]\\\\Amount\:=\:100000[1+(\frac{13}{100})^2]\\\\Amount\:=\:100000[1+\frac{169}{10000}]\\\\Amount\:=\:100000(\frac{10000+169}{10000})\\\\Amount\:=\:100000\times\frac{10169}{10000}\\\\Amount=10\times10169\\\\Amount=Rs. 101690$