Kavitha borrowed rs 24000 from a bank to buy a computer. if the ratwe of interest be 10% per annum compound annually what interest will she have to make after two years
Answers
Answered by
1
Step-by-step explanation:
The formula for compound interest is
Amount(A)=P(1+R/100)^t
A=24000(1+10/100)^2
A=24000(11/10)^2
A=24000 x 11/10 x 11/10
A=29040
therefore, Kavitha will pay rupes 29040 to the bank
Similar questions