What is the interest of rs.5000 at the rate of 10% per year for 5 year
Answers
Answered by
1
Step-by-step explanation:
please mark as brainliest answer...
Attachments:
Answered by
2
Answer:
Step-by-step explanation:
Simple Intrest
P = 5,000
R = 10%
N = 5
SI = P×I×T
SI = 5,000 × 10% × 5
SI = 2,500
Compound Intrest
CI = p(1+i)ⁿ
N = 5
I = .10
P = 5,000
CI = 5,000[(1+.1)⁵-1]
CI = 5,000 × [1.1⁵-1]
CI = 5,000 × [1.61051 - 1]
CI = 5,000 × .61051
CI = 3052.55
Similar questions