Question

calculate the amount when P= 1000, R= 10% per annum(compounded annually) Time 2 years​

Answer 1

You have learned about the simple interest and formula for calculating simple interest and amount. Now, we shall discuss the concept of compound interest and the method of calculating the compound interest and the amount at the end of a certain specified period. We shall also study the population growth and depreciation of the value of movable and immovable assets.

Answer 2

Step-by-step explanation:

Principal(P)=1000 Rate(R)=10% Time(T)=2 years

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

A=1000(1+10/100)2

A=1000(110/100)2

A=1000×110/100×110/100

A=1210