Question

If a loan of Rs. 60,000 is made at 5% compounded annually, find the amount at the end of 2 years.

Answer 1

Answer:

66000

Step-by-step explanation:

Principal=60000

Rate=5%

time=2 years

now

interest=p x t X r/100

60000 x 2 X 5/100

6000

again

amount=p + I

=60000+6000

=66000