Question

The amount on Rs 5000 for 2 years at 10% per annum compounded annually is​

Answer 1

Answer:

$2320.5

Step-by-step explanation:

We need to calculate the Compound interest

Formula of Compound interest (CI): CI = A - P  ⇒  A is Total amount

                                                                                 P is Principal deposit

Principal deposit is Rs. 5000 but we dont know the Total amount

Formula for Total amount (A):    ⇒  r is annual rate

                                                                                      n is number of years

                                                   Since it is half yearly n will be 2n

So

So Compound interest will be A - P

                                                 7320.5 - 5000

                                                 $2320.5