Question

find the amount of rupees 6250at 8%per annum compounded annually for two year Also find the compound interest​

Answer 1

ANSWER :

Present value =₹ 6250

Interest rate= 8 % per annum

Time =1 year compounded half-yearly

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years

Now substituting the values in above formula we get,

∴A=6250(1+(8/2)/100)

2

⇒A=6250(1+4/100)

2

⇒A=6250(1+1/25)

2

⇒A=6250(26/25)

2

⇒A=10×26×26

⇒A=₹ 6760

∴ Compound interest =A–P

=6760–6250=₹ 510

Answer 2

Answer:

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