Question

calculate the amount and compound interest on. ( b) Rs 18,000 for 2 years at 10 % per annum compound annually. ​

Answer 1

Step-by-step explanation:

P = ₹18000

time =(n) =2years

ROI = 10 % per annum

Compounded annually

Amount = P x ( 1 + R/100)^n

A= 18000 x ( 1 + 10 /100)^2

A=18000 x ( 1 + 1/10)^2

A=18000 x ( 11/10)^2

A=18000 x 11/10 x 11/10

Amount = ₹21870

Compound interest = Amount - Principle

= 21870 - 18000

= ₹3870

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