Question

Find the compound interest on Rs. 4860 for 2 years at 11 1by9%perannum

Answer 1

Answer:

Here,

Given,

principle=Rs. 4860

time =2years

rate =9%

by using formula,

CI=p{(1+R/100)-1}

=4860{(1+11/100)-1}

=4860{1.11-1}

=4860x0.11

=Rs.534.6

::The compound interest on Rs.4860 for 2years at 9% per annum is Rs.534.6.