Question

Exercise 13.1
Q. 1. Find the compound interest for
(1) Rs. 4000 at the rate of 5% for 2 years.
Rs. 6000 at the rate of 10% for 3 years
(ii​

Answer 1

Answer:

h

$ci = |p(1 + \frac{rate}{100} ) ^{n} - p |$

$ci = | 4000(1 + \frac{5}{100} )^{2} - 4000 |$

$ci = | 4000( \frac{105}{100}) ^{2} - 4000 |$

$ci = | 4 \times \frac{105 \times 105}{10} - 4000 |$

$ci = 4410 - 4000$

$ci = 410$