Question

shyam deposit 4000 rs in a bank to earn interest at the rate of 19 by 2 percent per annum find the amount
please help​

Answer 1

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● Answer -

Returns = 4796 Rs

Compound interest = 796 Rs

● Explanation -

Amount Shyam will get from the bank after 2 years -

Returns = P (1 + r)^t

Returns = 4000 (1 + 9.5/100)^2

Returns = 4000 × (1.095)^2

Returns = 4000 × 1.2

Returns = 4000 × 1.199

Returns = 4796 Rs

Compound interest for 2 years is -

Compound interest = Returns - Principal

Compound interest = 4796 - 4000

Compound interest = 796 Rs

Hence, Shyam will get 4796 Rs after 2 years of which 796 is compound interest.

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