Question

find the amount in compound interest on rupees 5000 for 2 years at 10% interest being payable yearly​

Answer 1

Answer:

Given:

Principal = Rs.5000; Time period = 2 years and Rate = 10% per annum

Concept used:

Compound interest = Amount - Principal

A = P × (1+)n

Detailed solution:

A = P × (1+)n

⇒ A = 5000 × (1+)2

⇒ A = 5000 × (11/10)2

⇒ A = 6050

Now, CI = A - P

⇒ CI = 6050 - 5000

= 1050

∴ Compound interest is Rs.1050

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

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