Question

Ramesh deposit 5000 in a saving bank account find the compound interest by him after 4 years if the rate of interest is 5% per annum and interest is payable annually​

Answer 1

Answer:Amt = Principal [ 1 + r /100 ]

amt = 1250 × 21/20 × 21/20 × 21/20

= 46305/32 = ₹ 1,447.03

Compound Interest = amt - principal

ci = 1447.03 - 1250

Compound interest = ₹197.03

Step-by-step explanation: