Question

Find the amount and compound interest if P = ₹

2000, R=5 p.c.p.a., N = 2 yrs.​

Answer 1

Answer:

For the first year, P=Rs.2000,R=5%

so, I =

100

P×R×T

=

100

Rs.2100×5×1

=Rs.105

The amount after the second year =Rs.2100+Rs.105

=Rs.2205

Final amount =Rs.2205

Hence, Compound Interest = final amount - original amount

=Rs.2205−Rs.2000=Rs.205

Step-by-step explanation:

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