Question

calculate the amount and the compound interest by using the formula for compound interest.
principal-625,
rate of interest-4%p.a.
time [in years] 2.

Answer 1

Step-by-step explanation:

Since p=625 R=4% T=2years

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

so,

625(1+4/100)^2

625×(26/25)^2

=676

Clearly amount is 676

Ci= A-P

676-625=51