Question

Calculate the amount and compond interest when is 10000 is invested for 2years at the rate 6%p.a.

Answer 1

Step-by-step explanation:

Here,Principal(p)=Rs. 10000

Time(t)=2years

Rate(r)=6%

So,Amount(A)=p×(1+(r/100))^t

=10000×(1+6/100)²

=10000×(106/100)×(106/100)

=11236

Therefore,Amount=Rs. 11236

Compount interest=Amount-Principal

=Rs. (11236-10000)

=Rs. 1236