Question

. By using the formula, find the amount and compound interest on Rs. 6000 for 2 years at
9% p.a. compounded annually.​

Answer 1

Answer:

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Answer 2

Answer:

Principal (P) = Rs.6000

Rate (R) = 9% p.a.

Time (T) = 2 years

$A = P (1+R/100)^T$

=> A = $6000(1+9/100)^2$

=> A = $6000(109/100)(109/100)$

=> A = Rs.7128.60

Hence, compound interest = Rs.(7128.60-6000) = Rs.1128.60