Question

In what time will rs 6400 amount to rs 7396 at 7.5% per annum, compound annually?

Answer 1

Step-by-step explanation:

P=Rs.6400,n=2years,R= 215 %

⇒ A=P(1+ 100R ) n

⇒ A=6400(1+ 2×10015 ) 2

⇒ A=6400× 200215 × 200215

⇒ A=Rs.7,396

⇒ Compoundinterest=A−P

⇒ CompoundInterest=Rs.7,396−Rs.6,400=Rs.996

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