Question

Find compound interest on rs 4000at 4%per annum for 2 years compounded annually

Answer 1

Step-by-step explanation:

compound interest= principle+simple interest

principle=₹4000

rate=4%

time=2 yrs

simple interest=principle*rate*time/100

4000*4*2/100=320

compound interest=4000+320=4320

Answer 2

Step-by-step explanation:

Given,principal=Rs 4000

Rate of interest =4% p.a.

Time=2 years.

Therefore,

Amount

=Rs [4000×{ 1+(4/100)}^2]

=Rs [4000× {1+(1/25)}^2]

=Rs [4000×{(25+1)/25}^2]

=Rs [4000× (26/25)^2]

=Rs 4326.4

Hence,Compound interest =Rs 326.4

Hope it will help you...