Question

The future value of Rs. 500 at
the end of 2 years @8% p.a.
compounded annually is​

Answer 1

Answer:

Principal (P) =₹5000 , Time (n) =2years , Rate(R) =8%p.a.

A =5000(1+8/100)²

=5000(108/100) ²

=5000(108/100) ×(108/100)

=108×54

=5832

CI =A-P

CI =5832-5000

= ₹832