Question

Find amount and compound interest if Principal = Rs 6250, at the rate of 4% p.a. compounded annually for 2 years.​

Answer 1

Step-by-step explanation:

Amount=P*(1+r/100)n

=>6250*(1+4/100)n

=>6250*(1+1/25)2

=>6250*(26/25)2

=>6250*576/625

=Amount=rupees 5760

compound interest =P*{(1+r/100)n-1}

=> 6250*{(1+4/100)n-1}

=>6260*{(1+1/25)2-1}

=>6250*{(26/25)2-1}

=>6250*(576/625-625)

=>6250*(49/625)

=>490