Question

Calculate the compound interest on 1200 for 2 years at the rate of 5% p.a. Also, find the
amount.
oors at the rate​

Answer 1

Answer:

$A = P( {1 + \frac{R}{100}) }^{N} \\ A = 1200( {1 + \frac{5}{100}) }^{2}\\ A = 1200({1+ 0.05})^{2}\\ A = 1200 \times {(1.05)}^{2} \\ A =1200 \times 1.1025 \\ A = \underline{ \underline{1323}} \\ \\ CI = A - P \\ CI = 1323 - 1200 \\ CI = \underline{ \underline{123}}$