Question

Find the amount and compound interest
compounded annually on:
(i) 320,000 at 9% p.a. for 2 years
(ii) 10,000 at 6.5% p.a. for 2 years
(iii) 16,000 at 10% p.a. for 2 years
2 3
5
(iv) 330,000 at 20% p.a. for 2 – years​

Answer 1

Answer:

1= p=320000 R=9% yrs=2

A=p(1+r/100)n

A=320000*(100+9/100)2

A=320000*109/100*109/100

A=32*109*109=

A=rs 380192

CI= A-p so

320000-380192=rs 60192