Question

The amount on Rs 6000 at 5% per
annum compounded annually for 2
years is:​

Answer 1

Step-by-step explanation:

,

A=P(1+

n

r

)

n.t

Given, P= Rs. 6000, r=5%, n=1 and t= 2

2

1

years

Therefore, we have A=6000(1+

1

0.05

)

1×2.5

⇒A=6000×1.05

2.5

⇒A=6000×1.129726

⇒A=6778.36

To find interest we use formula A=P+I, since A=6778.36 and P=6000, we have:

A=P+I

⇒6778.36=6000+I

⇒I=6778.36−6000=778.36

Interest, I= Rs. 778.36

Answer 2

Step-by-step explanation:

6000 * 1.05 * 1.05 = 6615

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