Question

Find the Amount and Compound Interest when the Principal is Rs. 2000, Rate of interest is 5 p.c.p.a. and the duration is 2 years.
please do it step by step​

Answer 1

Answer:

Answer

Here, P = ₹ 2000; R = 5 % ; N = 2 years

A=P(1+R100)N =2000(1+5100)2 =2000(105100)2 =2000(2120)2 =2205 Rupees∴ Compound Interest after 2 years,I = Amount − Principal =2205−2000 =205 Rupees

Hence, Amount = ₹ 2205 and Compound interest = ₹ 205.