Question

Vaibhav invested Rs. 60,000 at an interest rate of 12% per

annum compounded yearly. What amount would he get after 2 year​

Answer 1

Step-by-step explanation:

Principal=Rs.60000

Rate=12%p.a

Time=2yrs

Amount=P(1+R/100)

=60000(1+12/100)

=60000×112/100×112/100

=75264

Compound interest=Amount-Principal

=75264-60000

=15264