Question

Find the amount and compound interest on ₹ 14000 for 2 years at 5%.​

Answer 1

Answer:

Rate=5%

Time= 2 years

Principal=Rs.14,000

$amount =p ({1 + r \div 100})^{n}$

Amount=14,000(1+5/100)²

=14,000(1+1/20)²

=14,000(21/20)²

=14,000×441/400

=Rs.15,435

Compound interest =Amount-principal

=Rs.15,435-Rs.14,000

=Rs.1,435