Question

find the amount and the compound interest on rs 5000 for 2 years at 6% per annum, interest payable yearly. pls answer step by step

Answer 1

Answer:

It is given that  

Principal (P) = 5000

Rate of interest (r) = 6% p.a.

Period (n) = 2 years  

We Know that  

Amount = P(1+r/100)  

n

 

Substituting the values  

=5000(1+6/100)  

2

 

By further calculation  

= 5000×53/50×53/50

= 5618

Here  

CI = A - P

Substituting the values  

=5618−5000

= 618

Step-by-step explanation:

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