Question

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​​

Answer 1

Answer:

=RS 5408

Step-by-step explanation:

at the end of first year 5000+5000×4/100=5200

at the end of 2nd year 5200+5200×4/100=5408

or, by formula

p(1+r/100)^2

=5000(1+4/100)^2

=5000(1.04)^2

=RS 5408