Question

Calculate the amount on Rs.18,000for 2 years at 10% per annum compounded annually.

Answer 1

Answer:

3780

Step-by-step explanation:

18000*(110/100*110/100)

=180*11*11

=180*121

=21780

interest =21780-18000=3780

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Answer 2

Answer:

GIVEN PRINCIPAL =18000 Rate=10% Time=years

Amount =p×(1+r÷100)×time

Amount =18000×(1+10÷100)×2

Amount =18000(0.1)×2

Amount =3600

COMPOUND INTEREST =Amount-principle= 18000-3600=14400