find the compound interest on rupees 1000 at 5% per annum for 1 year compounded annually
Answers
Answer:
Give,
principal = 1000
Rat of interest =5%
Time =1 year
we know,
= P×T×R/100
A.T.Q
=1000×5×1/100
= 50
=50+1000
=1050
Amount =1050
C.I = 1050 _ 1000
= 50
Compound interest rate will be Rupees 50.
Step-by-step explanation:
Given:
In 1 year compounded annually , rupees 1000 at 5% per annum.
To Find;
Compound interest rate.
Formula Used:
--------------------- formula no.01
A=M+C -------------------------------------- formula no.02
A = total amount of money after compounding period
M= the original amount or initial amount
p= the annual interest rate
q = the number of years
C = Compound Interest
Solution:
As given : In 1 years compounded annually , rupees 1000 at 5% per annum. M = Rupees 1000 , p=5% , q= 1 year
Applying formula no. 01.
Applying formula no. 02.
Thus, compound interest rate will be Rupees 50.