the compound intrest on rs.30000 at 8% per annum for 2 years compound annually is
Answers
Answer:
Expectant mother : A new and expectant mother is a woman who is pregnant or has given birth within the previous six months (having either delivered a live child or a still-born baby after 24 weeks of pregnancy).
VIP : VIP Industries, is an India's largest luggage Manufacturer company which manufactures luggage and travel accessories. It is based in Mumbai, India and is the world's second largest and Asia's largest luggage maker. It acquired United Kingdom based luggage brand Carlton in 2004.
First Class Passenger : First class is a travel class on some passenger airliners intended to be more luxurious than business class, premium economy, and economy class.
Answer:
514.98
Step-by-step explanation:
We know the formula,
A=P(1+
n
r
)
n.t
Where,
A= total amount
P= principal or amount of money deposited,
r= annual interest rate
n= number of times compounded per year
t= time in years
Given:
P= Rs. 3000,r=8%,n=4 and t=2 years
A=3000(1+
4
0.08
)
4×2
A=3000×1.02
8
A=3000×1.171659
A= Rs. 3514.98
To find interest we use formula A=P+I, since A=3514.98 and P=3000, we have:
A=P+I
⇒3514.98=3000+I
⇒I=3514.98−3000=514.98
Interest, I= Rs. 514.98