calculate the amount on rs 800 at 10% per annum in 2 years, if interest is compounded annually
Answers
Answered by
1
Answer:
968 is the amount
Step-by-step explanation:
by the formula P(1+R/100)*n
Answered by
1
Answer:
Step-by-step explanation:Rate = 10% per annum = 5% half yearly
\because A = P(1 + \frac{R}{100})^{T}
=> 926.10 = 800 (1 + \frac{5}{100})^{T}
=> \frac{9261}{8000} = (\frac{21}{20})^{T}
=> (\frac{21}{20})^{3} = (\frac{21}{20})^{T}
\therefore Time = 3\ half\ years = 1\frac{1}{2}\ years
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