Question

Calculate the amount by using the formula for compound interest if principal= Rs. 1200 , rate = 10% p.a, time =2 years *​

Answer 1

Answer:

Principal = ₹ 1200

Rate of interest = 10 p.c.p.a

Time = 2 years

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

Amount = 1200 (1+2/100)^2

Amount = 1200 ×102/100×102/100

Amount = 1,248.48

Therefore - Amount = Rs. 1248.48

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