Question

Lekshmi deposited 25000 rupees in a bank which gives 8 percentage interest compounded annually. How much would she get back after 2 years?

Answer 1

Answer:

29160/-

Step-by-step explanation:

First year's balance = 25000/-

Rate of interest = 8%

Interest for the first year = 8% of first year's balance

$= 25000 \times \frac{8}{100} = 2000$

Second year's balance = First year's balance + Interest for the first year

$= 25000 + 2000 = 27000$

Interest for the second year = 8% of second year's balance

$= 27000 \times \frac{8}{100} = 2160$

Amount Lekshmi got after two years = Seconde year's balance + Interest for the second year

$= 27000 + 2160 = 29160$

HOPE THIS HELPS YOU AND PLEASE MARK AS BRAINLIEST ♡´･ᴗ･`♡