Question

Faizal invest ₹5000 at 5% per annum for 3 years and the interest is compounded annually find the amount standing to his credit at the end of second year​

Answer 1

Step-by-step explanation:

$P=5,000\\r=5\: percent\\n=2\:years$

$\implies$ $A=P(1+{\Large\frac{r}{100}})^{n}$

$\implies$ $A=5000(1+{\Large\frac{5}{100}})^{2}$

$\implies$ $A=5000({\Large\frac{105}{100}})^{2}$

$\implies$ $A=5000×{\Large\frac{21}{20}}×\Large\frac{21}{20}$

$\implies$ $\boxed{Amount=5,512.50}$

At the end of 2nd year, he will be having ₹5,512.50

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Answer 2

Answer:

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