Question

rajpal deposited ₹5000 with a finance company for 5 years at 12% annum. what is the compound interest that rajpal gets after 5 years?​

Answer 1

Answer:

3811.70842

Step-by-step explanation:

first we have to get the amount by the formula,,P(r+1/100)

then we have to find CI by subtracting amount and principle..

Answer 2

Answer:

The compound interest that Rajpal will get about 8811.7 rupees.

Step-by-step explanation:

Interest in compound interest  = P $(1 + \frac{r}{100})^{n}$

Here,

P = principal amount = 5000 rupees

r = rate of interest = 12%

n = number of years = 5 yrs

Substituting the values in the formula, we get,

Interest =  $5000(1 + \frac{12}{100})^{5}$

⇒ Interest = $5000 (\frac{112}{100} \times \frac{112}{100} \times \frac{112}{100} \times \frac{112}{100} \times \frac{112}{100})$

⇒  Interest = 5000 × 1.76234

⇒ Interest = 8811.7 rupees