Question

The simple interest at 5%got for a certain amount after 2years is 500rupees. if interest is compounded annually, what would be the interest for same amount at the same rate after a 2years?​

Answer 1

Answer:

P=100∗I/N∗R=100∗200/2∗5=Rs.2000

C.I=2000(1+5100)2−2000

C.I=2000(441−400400)=Rs.205