Question

What sum of money will amount to ₹ 11,236 in a time of 2 years at the rate of 6% per annum?

Answer 1

Answer:

Please follow me for answering

Step-by-step explanation:

You already have the annual interest rate and the time. So you can calculate the interest for a two years period. Assuming we are dealing with compound interest, we have:

(1+.06)2=1.1236(1+.06)2=1.1236

We got 12.36% interest in two years. Since the final amount of Rs 11,236 corresponds to the initial amount plus interest, we can divide it by the rate obtained in the above equation.

11,236/1.1236=10,00011,236/1.1236=10,000

We can obtain this amount at the given rate with a Rs 10,000 initial investment

Answer 2

Answer:

formula

Step-by-step explanation:

11236*100/6*2.

You will get your answer

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