Find the amount and the compound interest on Rupee 5000 at 6% per annum, Interest payable yearly... Give answer with all the steps No bad answers pweeaasee
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Step-by-step explanation:
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Answered by
1
Step-by-step explanation:
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
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