Question

Calculate the amount and the compound interest:
(i)3,500 at 10% per annum in 2 years.

Answer 1

Step-by-step explanation:

Answer

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Answer 2

amount-4235

compound interest-735

Interest for 1st year= 3500×10×1

100

=350

Amount=interest+principal

=350+3500=3850

Interest for 2nd yr=3850×10×1

100

=385

Amount=interest+principal

=3850+385

=4235

compound interest=Amount-Original principal

=4235-3500

=735