Calculate the compound interest for 4800 for 2 years at 5% per annum compounded annually, .
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8th
Maths
Comparing Quantities
Compound Interest
Calculate the compound inte...
MATHS
Calculate the compound interest for Rs 4800 for 2 years at 5% per annum compounded annually.
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ANSWER
Given:-
P=Rs.4800
n=2 years
R=5
As we know that,
A=P(1+
100
R
)
n
∴A=4800(1+
100
5
)
2
⇒A=4800(
20
21
)
2
⇒A=
20×20
4800×21×21
=5292
Therefore,
Compound interest
=A−P
=5292−4800=Rs.492
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