rs=10000 for 2 years at 9% per annum componded yearly.calculate the compound interest and amount on.
Answers
Answered by
1
Answer:
Compound interest =Rs1881
Amount =Rs11881
Step-by-step explanation:
Principal for the first year =Rs10000
Interest for the first year
=Rs(10000x9x1/100)=Rs900
Amount at the end of the first year
=Rs(10000+900)=Rs10900
Principal for the second year=Rs 10900
Interest on the second year =Rs(10900x9x1/100)=Rs981
Amount at the end of the second year
=Rs(10900+981)=Rs11881
Therefore, compound interest
=Rs(11881-10000)=Rs1881
Similar questions