Question

Mehak lent $ 8000 to Ria at the rate of 12*1/2 % per annum compound interest. Find the amount payable by Ria to Mehak after 2 years

Answer 1

• Principle = $ 8000
• Rate = 25/2%
• Time = 2 years.

Amount = P[1+r/100]ⁿ

             =$ 8000 [ 1+25/200]²

             = $ 8000 x 9/8 x 9/8

            = $ 8000 x 81/64

              = $ 10125

Thank u.

Answer 2

its formula for finding money