Question

Shyam deposited ₹4000 in the bank to earn interest at the rate of 19/2% per annum. find the amount which shyam will get from the bank after 2 years when interest being compound annually. how much is the compound interest

Answer 1

Principal = ₹4000
Rate = 19/2%
Time = 2 years
In compound interest =
A=P(1+r/100)²
A= 4000(1+19/2*100)²
A= 4000*219/200/219/200
A= 19,184.4₹
CI = A-P
CI = 19,184.4-4000
CI = ₹ 15,184.4

Hope it may help you

Answer 2

Principal = 4000

r = 91/2 = 19/2

t = 2 years

a = 4000(1+19/2/100)^2

a = 4796.1

compound interest =a-p

                                = 4796.1-4000

                                = 796.1

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