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
Answers
Answered by
2
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
Similar questions