Question

Find the amount and compund interest if principle is ₹ 500 r=5% number of year is 2

Answer 1

Answer:

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Answer 2

Answer:

Amount = 551.25

CI = 551.25 - 500 = 51.25

Step-by-step explanation:

FORMULA FOR CI is Amount-Principle

A = P(1+r/n)^t

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

so by putting the values,

500(1+5/100)²

= 500× 1.05×1.05

= 551.25

so

Amount = 551.25

Principal = 500

so Compound Intrest = A-P = 551.25 - 500 = 51.25