Question

We have Rs 5000. We will give one
Keep an annual 8 .5% compound interest in the bank. What will be the total compound addition at the end of 2 years? Write it off​

Answer 1

Answer:

Rs1298.5(Rs1298.5

Step-by-step explanation:

P = Rs 5,000

t = 1 year 6 months, so t = 3

r = 8% per annum

C.I=P(1+

100

r

)

t

−P

=P((1+

100

r

)

t

−1)

=5000((1+

100

8

)

3

−1)

=5000(0.2597)

=Rs1298.5(Rs1298.5)