Find the amount at the end of 2 year on rupees 1000 at 4% p.a. compounded annually
Answers
Answered by
3
Step-by-step explanation:
Compounded Interest = p(1+r/100)^t
= 1000(1 + 4/100)²
= 1000{(100 + 4)/100}²
= 1000(104/100)²
= 1000 × 104/100 × 104/100
= (104 × 104)/10
= 1456/10
= 145.6
Similar questions