Find the amount and compound interest on Rs. 16000 for 2 years at 10% per annum,compounded annually.
Answers
Answered by
5
Answer:
Amount = 16020
Compound intrest = 20
Step-by-step explanation:
Interest for year =[16000 ×8 ×1/100] =Rs 20 [by using S.I = P×R×T / 100]. Amount = Rs16000 + Rs20 = Rs16020. Compound interest = Rs16020 -Rs16000 =Rs 20.
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Answered by
1
Step-by-step explanation:
AMOUNT. =P(1+R/100)^n
=16000×(1+10/100)²
=16000×110/100×110/100
=19360
Compound interest=AMOUNT-PRINCIPAL
=19360-16000
=3360
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