Question

caculate the amount and compond interest on a sum of Rs 88000 invested for 1 year at 5% rate of inerest p.a. compounded for 9 months​

Answer 1

Answer:

THE AMOUNT IS ₹92,400

AND

CI IS ₹4,400

Step-by-step explanation:

PARAMETERS GIVEN,

PRINCIPAL = ₹88,000

RATE% = 5%

TIME = 1 YEAR

SO,

WE KNOW,

A=P(1+R/100)ⁿ

 = 88000(1+5/100)¹

 = (88000*105)/100

 = ₹92,400

SO,

CI = ₹92,400-₹88,000

   = ₹4,400

I HOPE YOU UNDERSTOOD THE QUESTION!!!