the present value rupees 10000 due in 2 years at 5% per annum compound interest when the interest is paid on yearly basis is.The correct answer is 9070 but pleaazzz anyone tell me how to solve it even im not understanding question.....
Answers
Answer:
Amount=11025 ₹, CI=1025₹
Step-by-step explanation:
Principal=10,000
Rate=5% per annum
Time= 2 years
Amount=?
CI=?
=10000(1+5/100)^2
=10000(1+1/20)^2
=10000(21/20)^2
=10000×21/20×21/20
=25×21×21
=11025₹
CI=Amount-principle
=11025-10000
=1025 ₹
There will be Rs. 1025 as compound interest.
Step-by-step explanation:
Since we have given that
Principal = Rs. 10000
Time = 2 years
Rate of interest = 5%
So, We need to find the "compound interest":
So, Compound interest = Amount - Principal
Hence, There will be Rs. 1025 as compound interest.
# learn more:
Find the compound interest on rupees 10000 for 1 years at 10% per annum if the interest is compounded half- yearly.
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