Find the amount on a sum of Rs12,000 at 4% per annum for 2 years compounded annually.
Also find the compound interest.
Answers
Answered by
2
Answer:
Amount A=P(1+r)
t
Here, P=12000,r=
100
5
=0.05,t=2
∴A=12000(1+0.05)
2
=12000(1.05)
2
=12000(1.1025)
=13230
Compound interest=13230−12000=1230
Option B is correct.
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