Question

Sunil deposited Rs 12000 with a finance company at the rate of 9 percent per annum compounded annually for 2years calculate the interest received by him after 2 years.​

Answer 1

If you want to find compound interest just add the values in the formula and it,s done

Answer 2

The interest received by him after 2 years is Rs.2257.2

Step-by-step explanation:

Principal = Rs.12000

Rate of interest = 9% = 0.09

No. of compounds per year = 1

Time = 2 years

$A= P(1+r)^t$

$A= 12000(1+0.09)^2$

A=14257.2

Interest = Amount - Principal

Interest = 14257.2-12000

Interest =Rs.2257.2

Hence the interest received by him after 2 years is Rs.2257.2

#Learn more:

Savita invested rupees 1000 in a finance company and received Rs 1331 after 3 years find the rate of interest percent per annum compounded annually

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