What is the compound interest on Rs. 50000 at 4% per annum for 2 yr compounded annually. Pls tll with step to step explanation
Answers
Answer:
Compund Interest will be (b) Rs . 4080
Step-by-step explanation:
When compounded anually,
Total Amount = Principal(1 + Rate/100)^Time period
= 50000 (1 + 1/25) ^ 2
= 50000 (26/25) (26/25) = 54080
Compound Interest = Total Amount - Principal
= 54080 - 50000 = 4080
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Answer:
4080
Step-by-step explanation:
Given The compound interest on Rs. 50,000/- at 4% per annum for 2 years compounded annually is
Since it is compounded anually we use the formula
A = P(1 + r/100)^n P = 50,000, r = 4%, n = 2 yrs
A = 50000(1 + 4/100)^2
A = 50,000(104/100)^2
A = 50,000 x 104/100 x 104/100
A = Rs 54,080
C.I = A - P
= 54,080 - 50,000
I = Rs 4080..
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