Question

Suma Deposited Rs. 12000 in a bank which offer an interest rate of 10%. Find the amount she gets the end of two year when the interest is

           i) Compounded annually

           ii) compounded half yearly​

Answer 1

Answer:

see

Step-by-step explanation:

Here P=12,000 Rs., n=2 years, R=10

Amount(A)=P(1+

100

R

)

n

=12000(1+

100

10

)

2

=12000(

10

11

)

2

=

100

12000×121

=14,520 Rs.

Compound interest(C.I)=A−P=14,520−12,000=2520

Hence, the compound interest is Rs. 2,520