Question

an amount of rupees 12000 is deposit at the rate of 10% per annum at compound interest find the interest and the total amount due at the end of 5 years

Answer 1

compound interest 19326.12

Answer 2

Answer:

The interest is Rs.7326.12.

Step-by-step explanation:

Principal amount = 12000.

Rate of interest = 10%= 0.1

Time = 5 years

The formula for amount is

$A=P(1+r)^t$

$A=12000(1+0.1)^5$

$A=12000(1.1)^5=19326.12$

The total amount after 10% interest is Rs.19326.12.

The interest is

$I=A-P=19326.12-12000=7326.12$

Therefore the interest is Rs.7326.12.