Question

The compound interest on Rs. 5000 at 4% for 2 years compounded annually is :-

Answer 1

Answer:

P = Rs.5000

r = 4%

t = 2

CI = P [ 1 − ( 1 + r/100 )t ]

⟹CI = 5000 [ 1 − ( 1 + 4/100 )^2 ]

⟹CI = Rs.408

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