Question

find the amount where P = 2000₹, R = 5.p.c.p.a and N = 2 years...?​

Answer 1

Answer:

(1) Here, P = ₹ 2000; R = 5 % ; N = 2 years

A = P(1+R/100)^N

=2000(1+5/100)^2

=2000(105/100)^2

=2000(21/20)^2

=2205 Rupees

∴ Compound Interest after 2 years,

I = Amount − Principal

=2205−2000

=205 Rupees

Hence, Amount = ₹ 2205

and Compound interest = ₹ 205.

Hope it helps you...