Find the amount if 2,000 is invested for 2 years at 4%
p.a. compounded annually.
Answers
Answered by
6
Answer:
Amount is Rs. 2,160
Step-by-step explanation:
Simple interest= Principal×rate×time/ 100
Simple interest= 2,000×4×2/ 100
Simple interest= 160
Amount= Simple interest +Principal
Amount= 160+ 2,000
Amount= Rs. 2,160
Hope this was helpful
Answered by
0
Step-by-step explanation:
Principal= Rs2,000
Rate= 4% p.a.
Time= 2yrs
It is said compounded annually
Amount= P(1+ R/ 100)n [Where n denotes time in exponent form]
2000(1+4/100)2 in exponent form '2'
Rs. 2163.2 ANS
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