Question

find the compound interest on rupees 10000 for 4 years at 5% p. a.

Answer 1

Answer:

₹2155

Step-by-step explanation:

Principal (P) = ₹10000

Rate (R) = 5%

Time (n) = 4 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 10000 (1 + 5/100)⁴

=> A = 10000 (21/20)⁴

=> A = ₹12155

Compound Interest = A-P = ₹12155 - ₹10000 = ₹2155