Question

a principle of rs 40000 is places in a saving account as 8 per annum compounded annually . how much is in account after 2 years?

Answer 1

Answer:

p=40000

r = 8%

t=2y

$A = p(1 + \frac{r}{100} ) {}^{n} \\ = 40000(1 + { \frac{8}{100} })^{2} \\ = 40000( \frac{27}{25}) ^{2} \\ = 40000 \times \frac{729}{625} \\ = 46656$