• Solve the following :
(1) Find the compound interest on * 5000 for 2 years at the rate of 10 p.c.p.a.
Answers
Answered by
6
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
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