Question

the compound interest on Rs. 1,000 at the rate of 4% per annum for 1 year, compounded annually is ​

Answer 1

Answer:

Rs. 40

Step-by-step explanation:

Amount = P (1+R/100)^t

A = 1000 (1+4/100)^1

= 1000(100/100 + 4/100)^1

= 1000 X 104/100

= Rs. 1040

C. I. = Amount - Principal

= 1040 - 1000

= Rs. 40