on what sum will the compound interest at 5% per annum for 2 years compounded annually be rs 164?
Answers
Answered by
2
Principal = ₹164
Time = 2 years
Rate = 5%
In compound interest :
A= p(1+r/100)²
A= 164(1+5/100)²
A= 164*105/100*105/100
A= 180.81
CI = A-P
CI= 180.81-164
CI= 16.81₹
Hope it may help you ♥
Time = 2 years
Rate = 5%
In compound interest :
A= p(1+r/100)²
A= 164(1+5/100)²
A= 164*105/100*105/100
A= 180.81
CI = A-P
CI= 180.81-164
CI= 16.81₹
Hope it may help you ♥
mukul9228:
No this answer is not correct. In my book answer its given 1600 as answer. Sorry but you failed to help me with my solution.
Similar questions
Science,
7 months ago
Social Sciences,
7 months ago
Math,
1 year ago
History,
1 year ago
Biology,
1 year ago