Question

What is the compound interest on Rs. 50000 at 4% per annum for 2 yr compounded annually. Pls tell with step to step explanation ​

Answer 1

Answer:

C.I = 4080

Step-by-step explanation:

1. C.I = P ( 1 + r/100)^n - P
2. C.I = 50000 ( 1 + 4/100)^2 - 50000
3. C.I = 50000 ( 1 + 1/25)^2 - 50000
4. C.I = 50000 (26/25)^2 - 50000
5. C.I = 50000 × 26/25 × 26/25 - 50000
6. C.I = 54080 - 50000
7. C.I = 4080 ans

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