calculate amount and ci of 10000 for 2 years at rate of 6%p.a
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Answer:
To Find: Compound interest (C.I)
Given: Principle amount (p) = 10,000. Interest rate (r) = 8% per annum = 8/100 = 0.08. Compounded (n) = 1 year. Time in years (t) = 2.
Formula: A = P(1+r/n)^nt. A = 10,000(1+0.08/1)^2. A = 10,000(1+0.08)^2. A = 10,000(1.08)^2. A = 10,000(1.1664) A = 11664. Now, we need to find the C.I.
Step-by-step explanation:
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