Question

• Solve the following :
(1) Find the compound interest on * 5000 for 2 years at the rate of 10 p.c.p.a.​

Answer 1

Answer:

1050

Step-by-step explanation:

Given,

principle amount,P=5000

number of years, n=2

rate,r=10

Amount,A=P*(1+r/100)^n

A=5000*(1+10/100)^2

=5000*(110/100)^2

= 5000*(11/10)*(11/10)

=50*11*11

=6050 rs

compund interest= A-P

= 6050-5000

=1050 rs