Question

Find the amount and simple interest on Rs. 12,000 at 5% for 4 years.​

Answer 1

Answer:

2400

Step-by-step explanation:

12,000×5/100×4

600×4

2400

Answer 2

Step-by-step explanation:

Given, P=12000,r=5%,n=4 years

We need to find compound interest.

We know, A=P[(1+

100

r

)

n

]

⇒A=12000[(1+

100

5

)

4

]

⇒A= Rs. 14586

Thus, compund interest = 14586−12000=Rs2586

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