find the compound interest on 1200 two years at 5% per annum
Answers
Answered by
2
Answer:
Step-by-step explanation:
Compound interest= Principle×Time×Rate of interest/100
C.I.= 122×2×5
C.I.= 1220
Answered by
3
Answer:
The compound interest is Rs.123
Step-by-step explanation:
Given,
Principal=1200
time=2 yrs
rate=5% per annum
According to the problem,
Compound interest= p(1+r/100)^2-p
= (1200(1+5/100)^2)-1200
=(1200*21/20*21/20)-1200
=1323-1200
=123
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