Question

Please tell me answers compound interest

Answer 1

Hello,

Principle = rs 10000

Time =4 years

Rate of interest =6% per annum

Now,
Amount =
$p(1 + { \frac{r}{100} )}^{n}$
So,

Amount for the above question is
$10000(1 + { \frac{6}{100} )}^{4} \\ = 10000 \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100} \\ = 106 \times 106 \times 1.06 \times 1.06 \\ = 12624.77$

Now,
Compound interest = amount - p
So,
CI = 12624.77 - 10000
CI = RS. 2624.77

Hope this will be helping you ✌️