Question

find the compound interest on rupees 5000 for 2 years at 4% per annum ​

Answer 1

Answer:

Principal (P) = Rs.5000

● Time(n) = 2 years.

● Rate of interest (r) = 4%

★ To find:-

● Compound Interest (CI)

★ Solution:-

CI = P ( 1+r)^n - P

=> CI = 5000(1+4%)^2-5000

=> CI = 5000(1+0.04)^2 - 5000

=> CI = 5000 × 1.0816 - 5000

=> CI = 5408-5000

=>CI =Rs. 408