Question

the amount if annunity of Rs. 500 in two years allowing compund interest at the rate of 4.5% pa is nearly Rs.

Answer 1

Answer:

≈ ₹551

Step-by-step explanation:

P = ₹500

R = 4.5 % pa

T = 2 yr

$a = p {(1 + \frac{r}{100} })^{n}$

$a = 500( 1 + \frac{5}{100}) ^{2}$

$a = 500( \frac{21}{20} \times \ \frac{21}{20} \ )$

$a = 500 \times \frac{441}{400}$

A = ₹551.25