QUESTION 7
MARKS: 2
Find the amount on Rs.1,500 for
4 yeas at 12% calculated on
yealry basis.
Answers
Answered by
1
Step-by-step explanation:
Given:
Principal(P)=1500
Rate of interest(r)=2%
Number of years=2(semiannually)
Formula:
Amount(A)=P(1+
100
r
)
2
⇒A=1500(1+
100
2
)
2
⇒A=1500×(1.2)
2
⇒A=2160
Compound Interest=A−P
=2160−1500
=660
Therefore, compound interest=660.
Answered by
0
Amount=720
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