Question

anju lent 5000 rupees to Guneet at the rate of 25/3% per annum compound interest find the amount payable by Guneet to Anju after 2 years​

Answer 1

Answer:

5868.06 rupees

Step-by-step explanation:

The formula for compounding is given as$Amount= Principal*(1+\frac{Rate}{100})^{Time}$

In our case, $Rate=\frac{25}{3}%\\\\Time=2\\Principal=5000$

Therefore, the amount payable by Guneet is;

$Amount=5000*(1+\frac{\frac{25}{3} }{100}) ^{2} \\Amount=5000*1.083333^{2} \\\\Amount=5868.0555555\\Amount= 5868.06 rupees$