Find the amount and compound interest when the interest is compounded anually.
1.principal = rupees 4000, Time =2 years, Rate =10%per annum
2.principal = rupees 18000 ,Time =2 years, Rate =31/2%per annum
plz explain step by step
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Answer:
1. Interest 840 & amount = 4840
2. Interest 6012.45 &Amount = 24012.45
Step-by-step explanation:
1. Compound Interest rate for 2 years = 10+10+(10×10)/100 = 21%
CI = 21% of 4000 = 840
Amount = 4000+840 = 4840
2. P = 18000
SI for 2 Years = 2790 + 2790 = 5580
CI = 2790×[31/2]℅ = 432.45
Total CI = 6012.45
Amount = 6012.45 + 18000= 24012.45 [Ans]
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