Question

Find the compound intrest on a principal amount of 5000 after 2 years if the rate of interest for the first year is 2 % and 2 year is 4%

Answer 1

Answer:

Rs 304

Step-by-step explanation:

principal amt=rs 5000

interest in I year=(5000*1*2)/100=rs 100

total amt=5100

now interest in II yr on rs 5100

=(5100*4*1)/100=rs 204

so compound interest=204+100=Rs 304