Karim, an unemployed, graduate young man got RS.5000 as loan from a bank. If the rate of interest is just 4% per annum compounded annually, what amount will be pay after 2years. PLEASE GIVE ANSWER FAST URGENT
Answers
Answered by
1
Principal = ₹5000 Rate = 4% Time = 2 years
CI = P(1+R/100)t-P
5000(1+4/100)2 = 5000(104/100)2 = 5000×104/100×104/100
CI = ₹5408
Amount = CI-Principal = 5408-5000 = ₹408
Similar questions