Question

The maturity amount, when ₹6250 is interested for 2 years at 8% .p.a compounded annually is?​

Answer 1

Answer:

2160

Step-by-step explanation:

Find compound interest on Rs 6250 at 16% per annum for  

2 years compounded annually

Compound Interest =[Principal[1+   Rate% * 1/100]^time]− CompoundInterest

So we know that

Principal =Rs6250

Rate% = 8 %

C.I=P[1+  R/100]  ^T - C.I

6250 [1+ 4/25 ]  ^2  −6250

(6250 * 29/25 * 29/25 )-6250

8410−6250

=RS2160(Anu)

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