Anshul invest 15,000 on compound interest at 5% for a period of 2 year at the end of the 2 year he want to buy a set of tv for 18,000 find out if he has enough many at the end of the 2 year to buy the set if not how much amount is he short off
Answers
Answered by
48
Given--
p = 15000_
r = 5%p.a.
n = 2years
a = p(1+r/100)^n = 15000×105×105/10000 = 15×21×105/2 = 33075/2 = 16537.5₹
So Anshul has 16537.5₹ in the end of 2 year period. Now he has not enough money to buy a tv set of 18000₹
He has a shortage of (18000-16537.5) = 1462.5₹
HOPE it helps U and uCan understand it.
thankyou buddy. :-)
p = 15000_
r = 5%p.a.
n = 2years
a = p(1+r/100)^n = 15000×105×105/10000 = 15×21×105/2 = 33075/2 = 16537.5₹
So Anshul has 16537.5₹ in the end of 2 year period. Now he has not enough money to buy a tv set of 18000₹
He has a shortage of (18000-16537.5) = 1462.5₹
HOPE it helps U and uCan understand it.
thankyou buddy. :-)
Answered by
6
Answer:
Given--
p = 15000_
r = 5%p.a.
n = 2years
a = p(1+r/100)^n = 15000×105×105/10000 = 15×21×105/2 = 33075/2 = 16537.5₹
So Anshul has 16537.5₹ in the end of 2 year period. Now he has not enough money to buy a tv set of 18000₹
He has a shortage of (18000-16537.5) = 1462.5₹
Step-by-step explanation:
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