Question

Calculate the amount and compound interest on Rs. 10,000 for 2 years at 9 1/2% per annum compounded annually?

please answer

Answer 1

Step-by-step explanation:

$c.i = p( \frac{r}{100} + 1)^{2}$

$c.i = 10000 \times( \frac{19}{200} + 1)^{2}$

$c.i = 10000 \times \frac{219}{200} \times \frac{219}{200}$

$c.i = \frac{47961}{4}$

$c.i = 11990.25$