Question

Renju deposited 20000 rupees in a bank which gives 4% interest compounded annually. How much would he get after 2 years?

Answer 1

Answer:

20000 × 104/100 × 104/100 = 21632

Answer 2

⚝Solution:-

Deposited Money=20000Rs

Interest rate=4% per Annum

Time period=2 Years

(i)For the first year total amount will be:

➯(104/100)×20000

➯20800Rs

(ii)For the Second year:

➯(104/100)×20800

➯21,632

∴Hence 21632 is the Correct Answer!