Question

Find the amount for a sum of Rs. 20000, for
2 years when rate of interest is 10% p.a,
compounded annually.​

Answer 1

Answer:

2

Step-by-step explanation:

Answer 2

Answer:

Amt = 24,200

Step-by-step explanation:

Principle = 20,000

Rate of interest = 10%

Time = 2 yrs

Amt = p( 1 + r/100)ⁿ

Amt = 20,000( 1 + 0.10)²

Amt = 20,000(1.1)²

Amt = 20,000 * 1.21

Amt = 24,200