Question

find the compound interst on Rs 1000 for two years of 4%per annum.

Answer 1

Answer:

82

Step-by-step explanation:

Given:

Principle = (P) = Rs 1,000

N = 2

I = 0.04

CI = P[(1 + i)ⁿ-1]

CI = 1000[(1 + 0.04)²-1]

CI = 1000[(1.04)²-1]          [(1.04)²-1] = 0.0816

CI = 1000 × 0.0816

CI = 81.6

Approx = 82