find the compound intrest on rs 6400 for 2 year at 5/1 upon 2% perannum
Answers
Answered by
0
Answer:
₹723.36
Step-by-step explanation:
Principal (P) = ₹6400
Rate (R) = 5½ % = 11/2 %
Time (n) = 2 years
Amount (A) = P (1 + R/100)ⁿ
=> A = 6400 (1 + 11/200)²
=> A = 6400 (211/200) (211/200)
=> A = ₹7123.36
Compound Interest = A-P = ₹7123.36 - ₹6400 = ₹723.36
ayan9967348517:
thank you
Answered by
3
✰ Principal ( P ) = Rs. 6400
✰ Rate ( r ) =
✰ Time ( n ) = 2 years
✠ The compound interest.
First we will find amount by using formula then we will calculate compound interest by subtracting amount from the original principal.
- The money borrowed is called the principle, the extra money paid for using lender's money is called interest and the total money paid to the lender at the end of a specified period is called amount.
where
- A = amount;
- P = principal
- r = rate of interest compounded
- n = number of years
Now, calculate Compound interest
─━━━━━━━━━──━━━━━━━━━─
Similar questions