Question

calculate the compound interest for the second year on rs 12000 invested for 4 years at 5%per annum. ​

Answer 1

Answer:

The answer is 120300

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Step-by-step explanation:

For first year= P=12000 and R=5%

So I=P*R*T /100 = 12000*5*1/100=600

Amount at the end of the first year=12000+600=12600

P for second year=126000

I for second year=126000*5*1/100=6300

Final Amount is=126000+6300=132309

Compound Interest=Final Amount- Original Principal=132300-12000=120300

Answer 2

Answer:

630

Step-by-step explanation:

For first year=

P=12000

R=5%

So Interest = P * R * T / 100 = 12000 *5 * 1 / 100 = 600

Amount at the end of the first year=12000+600=12600

P for second year=12600

I for second year=12600*5*1/100=630