Math, asked by jayantluthra58, 4 months ago

Compound interest on rs.2500 for 5 years at 4% per annum (compounded annually) is

Answers

Answered by Divyaballakuraya

2

Answer:

541.75

Step-by-step explanation:

Amount = principal ( 1 + r ) ^n

r = 4/100 = 0.04

A = 2500 ( 1 + 0.04) ^ 5

= 2500 ( 1.04 ) ^ 5

= 2500 ( 1.2167 )

A = 3041.75

Compound interest = Amount - Principal

CI = 3041.75 - 2500 = 541.75

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