Question

kiran borrows RS 12000 from kriti at 8% per annum for 4 years .how much interest will kriti get ? step by step explanation

Answer 1

Answer:

★ Given :

Principal = Rs. 12000

Rate of interest = 8 p.c.p.a

Number of years = 4

★ To find :

How much interest will Kriti get.

★ Method :

Amount = P(1+R/100)^N

Amount = 12000 ( 1 + 8/100)^4

Amount = 12000 × 108/100 × 108/100× 108/100 × 108/100

Amount = 16,325.8675

Compound interest = Amount - Principal

Compound interest = 16,325.8675- 12000

Compound interest = 4,325.8675

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