Question

Find the compound interest on rs 3500 for 1 year at 20% per annum when the interest is compounded annually

Answer 1

Answer:

Step-by-step explanation:

A=P(1+R/100)power of t

P=3500

R=20%

t=1

So,

3500(1+20/100)

3500(1+1/5)

3500(6/5)

700×6=4200

CI=A-P

4200-3500=700

Answer=700