Question

Find the amount and compound interest on rupees 16,000 for 2 years at 5% annual rate of interest ​

Answer 1

Answer:

SI= P × R × T/100

16000×5×2/100

=1600

Amount=SI +P

=1600+16000

Step-by-step explanation:

=17,600

Answer 2

Answer:

Total interest is ₹1640 & amount is ₹ 176400

Step-by-step explanation:

Given,

p= ₹ 16000

n= 2 years

r=5% p.a.

Interest for first year  = p*r*1/100

                                   = ₹(16000*5*1/100)

                                   = ₹800

Amount for first year =₹( 16000+800)

                                   =₹16800

Interest for second year = p*r*1/100        ║ Here the p will be the amount of

                                                                      the previous year i.e., ₹16800

                                        = ₹(16800*5*1/100)

                                         = ₹840

Amount for second year is = ₹(16800+840)

                                             = ₹17640.