Question

Raghu is an employment young man he received rupees 10000 as well known are the loan Bega organised by the State Bank of India if the bank charges a normal rate of interest of 5% per annum calculate the compound interest he will have to pay after 2 years.​

Answer 1

Answer:

$\huge\red{A}\pink{N}\orange{S}\green{W}\blue{E}\gray{R}$

$principal =10000 \\ rate \: of \: interest = 5\% \\ time = 2 \: year$

If the bank charges compound interest,then

$\huge\red{a}\pink{m}\orange{o}\green{u}\blue{n}\gray{t} = \\ p(1 + \frac{r}{100} ) \\ 10000(1 + \frac{5}{100}$

=Rs.11025

Compounds interest=11025-10000

=Rs.1025

Total payment amount=Rs.11025