Question

find the compound amount 10000 after 5 years at the rate of 12℅ when interest is compounded monthly​

Answer 1

Answer:

1663.2236

Explanation:

Answer 2

well we know the Chessboard story of Compund interest ,which multiple by ×64 times and the king loose his everything to paid of

here we have to pay 1% interest for ×60 time

it seems a Tricky question, idnt the perfect answer,maybe could possible with calculator

but we count alredy 60%of it ehich is 6000rs, so it possible that the interest is more than its capital,

it should be
10000×(101) power 60/(100) power 60 -10000
=(101)power 60/(100) power 58 -10000